Case Studies | Financial Services Complaints Ltd

Our case notes show how we deal with the many different issues that arise in our case investigations. The case notes aim to provide consumers and participants with guidance as to the approach we are likely to take in a particular type of case or highlight some of the many different ways in which a complaint can be resolved.

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Case Notes Category

Title	Year	Case summary
Loss caused by Covid-19 not covered	2021	Loss for Covid-19, a notifiable infectious disease, not covered by the policy
Borrower believed lender sold repossessed car well below its market value	2021	Did the lender take reasonable care when they sold a repossessed car?
Error when a loan was documented	2021	Lender overlooked to apply an agreed discount when they redocumented a loan. This affected the amount of interest the borrower would pay.
Insurance broker overlooked to arrange a policy extension for their client	2020	What harm did an insurance broker’s mistake cause their client?
Incorrect fee applied to estate administration	2021	David’s late mother’s estate was administered by a trustee company. Upon uncovering a letter written by his late mother, concern was raised about the sliding scale of fees the trustee company was applying. David’s subsequent complaint led to the trustee company reviewing their fee and honouring the original fees contract.
Fraud on a vulnerable consumer’s account – who’s to blame?	2021	Aesha is a vulnerable consumer who had money fraudulently taken from her account. Aesha’s caregiver took her money, but we found that her credit union were partially responsible for allowing the transactions to proceed – so we asked them to reimburse some of the funds.
Dispute between beneficiaries led to prolonged estate administration	2020	Was the trustee company responsible for the costs of a prolonged estate administration?
No cover under business insurance for privately owned vehicles	2021	Was the insurer obliged to pay a business insurance claim for damage to privately owned vehicles?
Stop-loss stops trade	2021	A trading platform automatically closed Tāne’s trade when the price spiked downwards. Tāne couldn’t see the price dip reflected in any trading data, so didn’t think the trade should have been closed.
Mobile trading mishap	2021	Jude is approached by a truck shop and makes a purchase. Jude’s financial mentor thinks the truck shop’s practices are unethical.

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