Insurance Advisory Alert: When is a complainant not a consumer?
Published 21 October 2014
On Monday 20 October the High Court ruled that the Financial Ombudsman Service has no jurisdiction to consider a complaint from a former director relating to a D&O policy.
The ruling means that individuals claiming under D&O policies, for liabilities arising in the course of their trade, business or profession, will generally not be considered "consumers" for the purposes of the compulsory jurisdiction of the FOS.
DAC Beachcroft acted for the successful claimant.
Download the full alert.