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ombudsman news

issue 62

June/July 2007

ask ombudsman news

guidance on motor valuations

When dealing with insurance disputes over the valuation of vehicles that have been written-off, how does the ombudsman service check that valuations are correct- Is there a particular industry guide that you use-

a motor retailer

When checking the latest values of vehicles we take account of a number of factors, including mileage, optional extras and vehicle colour. We may also consider any particular facts that the policyholder or insurer may point out to us - as well as regional and seasonal variations, where they are relevant.

In selecting sources of guidance on valuations, we have to bear in mind what is easily available both to the industry and to the general public, including on-line valuations.

We do not favour any one specific guide over any other, but make use of three of the major industry valuation guides - Glass's, Parker's and CAPcalc. By using all three options we seek to avoid individual guide differences and discrepancies and are able to form an overall view of the best estimate. This ensures that every valuation dispute we deal with receives a full and thorough market assessment.

ombudsman's consumer leaflet

Can you please let me know how to get hold of copies of the ombudsman consumer leaflet we have to send out if we get a customer complaint-

an independent financial adviser

Our consumer leaflet, your complaint and the ombudsman service - as required under the FSA rules - is available in packs of 25 at £5 per pack (including postage and packing).

To obtain copies, please send us a completed order form (available from the publications page of our website), together with a cheque. We do not issue invoices or accept credit card payments. Supplies are free to public libraries and consumer advice agencies, such as citizens advice bureaux and trading standards departments.

The leaflet has recently been revised to take into account the fact that, from April 6 2007, businesses with a consumer credit licence are covered by the Financial Ombudsman Service. Firms that were already covered by the Financial Ombudsman Service before April 6 2007 can use up their existing supplies of the consumer leaflet before ordering copies of the new version.

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ombudsman news issue 62 - [PDF format]

ombudsman news gives general information on the position at the date of publication. It is not a definitive statement of the law, our approach or our procedure.

The illustrative case studies are based broadly on real-life cases, but are not precedents. Individual cases are decided on their own facts.