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loula after looking through the code of practice you mentioned i sent a strongley worded letter to the brokers with regards to the code of practice and today received a response stating that the insurance company had now returned all premiums to the finance company and i owe nothing and court proceeding will no longer commence. i can stop stressing now, thankyou for your help, and on another note. abbey repaid me over 300 in fees no questions asked , been a pretty good month all in all.

hello. about 6 months ago i got public liability insurance for a ltd company. i closed the business as a really good job offer came up but when it came to cancelling the insurance i was told that it was a deposit and minimum policy and that this could not be cancelled. fair enough if this is the case but i always thought that if there was no surrender or cash in values of insurance premiums, that this had to be clearly stated when buying the policy, which it wasn't , just a small "this is a deposit and minimum policy" hidden somewhere between 6 pages of policy details. i and probably 95 % of others are unlikely to know what such a ploicy is and feel that this should have been clearly stated by the broker at the time of the quote and wondered if there was a case for claiming against a missold policy. However my main gripe is the fact that the premium was paid to the broker via a premium finance company who since i cancelled the direct debit, have charged me 95.00 cancellation fee and costs for their collectors are 100.oo on top of 520.00 for a policy used for only 3 months for a business which no longer exists. i would be grateful for any advice on both the selling of the policy and the charges from the finance company. Also although i signed the finance agreement , am i liable for business insurance bedts as a director now the company has been closed. thankyou.