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Over 550,000 people visit CA website

The Consumers&#39 Association has had more then 550,000 visits to the endowment section of its website since it started running its high-profile campaign last September.

The campaign, aimed at helping mortgage endowment policyholders complain to insurers, has seen more than 45,000 people download draft complaint letters to send to insurance companies.

CA senior policy adviser Mick McAteer estimates that there are still one million complaints waiting to surface.

McAteer says he is pleased that the CA has been able to help so many people but would preferred it if the FSA had been more proactive in helping the public to come to terms with endowment misselling.

The CA has renewed calls for a stratified review of mortgage endowments by the FSA, saying it should publish performance of policies and target the worst-performing policies.

McAteer says: “More cases would come to light and the public would find it easier to lodge complaints if the FSA was more aggressive in its efforts to protect the consumer.

“We have never called for a full-scale review such as the pension review. However, we believe a stratified review would be more cost-effective for the industry and more effective for the consumer.”

FSA spokeswoman Jackie Blyth says: “Misselling is not about performance of a product. It is about whether or not the product itself has been missold. This is why the FSA review is a targeted one.”


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Singapore cover image - thumbnail

White paper — Singapore International Insights

Jelf Employee Benefits assesses key trends within the international private medical insurance provision of organisations with employees in Singapore. Benefit structure, cost management and healthcare facilities are examined and key considerations are highlighted. This edition will be of particular interest to global human resource directors and benefit managers with local and expatriate populations in Singapore.


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