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Mr D, Maidenhead, Abbey Win |
Dear Julie,
I have now received the compensation cheque from Abbey in regard to the endowment claim with which you have been assisting. I, therefore, enclose a cheque for £xxxx,xx as payment of your invoice.
May I add my thanks for your help in this matter. It has been remarkably painless!
Thanks again and kind regards,
Mr D
Sep 1, 2005
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Lloyds TSB plc has allocated a further £110 million to compensate endowment policyholders. This is in addition to the £250 million which was set aside to pay compensation in 2003.
Lloyds TSB plc to impose a time bar on endowment policyholders that were mis-sold their policies in order to prevent them from making a claim
Reported in the Daily Telegraph December 2004
Mortgage endowment policyholders are collectively going to face a shortfall estimated at £ 40 billion
The average amount of compensation where a policy has been mis-sold is estimated to be £3,000
Source ABI (The Association of British Insurers) 2006
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