Equitable action group claims Treasury refused policyholder database
The Equitable Members Action Group claims the Treasury has refused to use an updated database of 322,000 Equitable Life policyholders it supplied to speed up compensation payments.
The Times reports that the Treasury has cited data protection issues, claiming the policyholders included in the database did not give their consent for their details to be passed on. This is disputed by Emag’s lawyers.
Emag says it fears that thousands more Equitable Life policyholders could die before they receive compensation.
Last year, the Treasury outlined a £1.5bn compensation deal for one million policyholders.
A freedom of information request, submitted by a policyholder, shows that only 777 payments had been made so far to Equitable customers.
The Government has pledged to pay £500m to policyholders by April and contact all one million policyholders by June.
An Emag spokesman told The Times: “Emag is disgusted at the cynicism and incompetence of the Treasury in failing to deliver a scheme they promised after the election.
“While Mark Hoban blunders about, many thousands more policyholders will die before the first cheque even reaches them.”