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CR367 Conclusion of contract Policy correctly issued?

CR367 Conclusion of contract Policy correctly issued? Surrender of policy – did applicant for surrender have authority to act? A complainant wrote to us complaining about the fact that her insurance adviser had partially cashed in her policy. She stated that the adviser had owed her money and to redeem his debt he paid the […]

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CR302 Conclusion of Contract-Reliance theory – credit life policy covering bond

Conclusion of Contract CR302 Reliance theory – credit life policy covering bond – insured relying on information provided by insurer to bank that cover in place – such information in turn furnished by bank to insured – no cover in fact granted. Mr and Mrs G applied for a bond at a bank, and at […]

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CR297 Conclusion of contract- Quotations provided for joint life annuities

Conclusion of contract CR297 Quotations provided for joint life annuities – applications completed without details of second life assured – single life annuities issued – duty on insurer to compare applications with quotations. Background 1. The complainant’s financial adviser obtained two quotations for joint life annuities from the insurer, and provided them to the complainant. […]

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CR131 Conclusion of contract – cancellation and replacement

CR131 Conclusion of contract – cancellation and replacement of – “snatching at the bargain”. Background Upon being widowed Mrs A took “life cover” as well as “dread disease cover” through a consultant/franchise employee of the insurer, who acted as her financial adviser. Some years later when her circumstances changed, Mrs A decided to replace these […]

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CR130 Conclusion of contract

CR130 Conclusion of contract – Insurer acting on the unauthorised instructions of an adviser to alter the inception date of a policy Facts On 9 March 2005 the complainant applied for a policy with death, functional impairment, disability and core dread disease benefits. In the application form an inception date of 1 April 2005 was […]

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CR9 Conclusion of contract of insurance

CR9 • Conclusion of contract of insurance – intermediary not authorised to act on behalf of insurer- estoppel Background The complainant took out life insurance from X Life Insurance covering his own as well as his wife’s life. A dispute arose about the amount of the premium and the negotiations had to be reopened. The […]

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CR8 Conclusion of contract – telemarketing – terms of the contract

CR8 • Conclusion of contract – telemarketing – terms of the contract The insurer’s agent approached the complainant by telephone. The complainant alleged that the parties came to an agreement in terms of which he took out whole life insurance on the life of his mother. The life insured died slightly more than a year […]

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