Misclassified vehicle use – a reminder to provide adequate advice – Moonstone Information Refinery

Misclassified vehicle use – a reminder to provide adequate advice – Moonstone Information Refinery

An insured’s request to modify his policy to cover his vehicle for business use materially changed the nature of the policy, and the financial services provider should have obtained additional information to ensure the cover was appropriate to his needs. This is according to a case study published last month by the Ombud for Financial Services Providers. The Ombud’s Office used the case to inform consumers about why it is important to ensure the…