The Endowment Diary

The Endowment Diary

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The Endowment Mis-selling Debacle - one of the UK's worst financial scandals

Monday, January 30, 2006

Guardian Assurance Fined

Guardian Assurance Fined

Guardian Assurance was fined £750K last week by the Financial Services Authority (FSA), for its poor complaints handling procedures over this period.

The FSA said that the numbers of complaints made to Guardian about failed endowment policies, which were being rejected, rose from 29% to 77% after the company introduced new complaints handling procedures.

Guardian will now contact the 5,600 customers whose complaints were rejected during this period.

The company has also set up a helpline for customers with concerns, and said it welcomes their questions.

Ring 0845 701 0210 to speak to them.

Those of you who have managed to extract compensation from Guardian should revisit that comepnesation, and see if the amount is actually enough.

All of this extra expense, damage to reputation and hassle could be avoided if the life assurance firms finally bit the bullet and agreed to underwrite these useless and failing policies.

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