Norwich Union reattribution

Are any members of this group also CGNU or CULAC with-profit policyholders affected by the Norwich Union reattribution?

If so, please have a look at our group which is dedicated to this subject.

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Reply to
Norwich Policyholder
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As soon as I can reasonably escape from their grasp...I for one shall not be doing any business with them again... they are like double glazing salesmen who are acting as if they don't need repeat sales and can treat their customers like shxte.

Reply to
BigGirlsBlouse

To a point, the behaviour of Norwich Union is predictable and expected. For me, the real problem is the policyholder advocate. She supposedly represents policyholders but it is obvious that she is working for Norwich Union.

Spottiswoode announced that she had agreed a so-called deal on 30th July 2008, which she described at the time as "good in all respects", but now, on 4th February 2009, she has obliged Norwich Union and agreed that "deal" is now called off and that it can be renegotiated. What kind of policyholder representation is that? If NU agrees to buy something today, and then the price drops tomorrow, then NU must suffer the relative loss. There was absolutely no mention whatsoever of any threshold point when the "deal" could be called of if the FTSE

100 went below 5000 points as was first heard at the end of October 2008, some 3 months after the "deal" had been announced.

In any event, the reattribution should NOT proceed, because it is a complete rip off to policyholders. We demand a DISTRIBUTION on a 90:10 basis, as described in all policy documents of all policyholders, and as endorsed by the 1995 Ministerial Rule.

Reply to
Norwich Policyholder

I wish you the best of luck. The 90:10 rule was completely ignored when AXA did the same a few years ago, despite "Which?" and "Watchdog" getting involved.

Reply to
Mark

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