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ombudsman news

issue 25

February 2003

about this issue

This month's round-up of recent investment case studies includes complaints from:

  • a pensioner who received inappropriate advice on investing his capital; and
  • a couple who were sold a whole-of-life policy, when all they wanted was a simple savings plan.

We also include a case where a customer claimed over six hundred and fifty thousand pounds in compensation when the firm mistakenly sent documents relating to his maturing endowment policy to the wrong address.

Following our banking feature last month on disputes about cash paid in to bank accounts, we focus in this edition on disputed cash withdrawals, made via a cash machine or over the counter.

Finally, our insurance case studies illustrate a variety of recent complaints where, because the customer failed to disclose certain facts, the firm refused to meet the claim (and in some instances cancelled the policy). We look, too, at how a recent High Court decision may affect some insurance complaints that involve the customer's failure to disclose "spent" driving convictions.

Walter Merricks, chief ombudsman

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.