Pet Insurance - Halifax & LTSB pulling out of the market - Will M&S be next ?

[citizenB]

I have just seen that Halifax and LTSB are pulling out of the Pet Insurance Market.

 

I have my two dogs insured by Marks & Spencer, will they be next to withdraw ?

 

Like the following two caggers's. I researched the Pet Insurance market thoroughly before diving in. Both of my dogs have long term issues, if I were forced to find another Insurer, I would lose the continuous cover that I have with M&S.

 

Meaning that any problem my dog has now, will not be covered by a new provider.

 

This would be of great concern as I would then be liable for £thousands in vet bills.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?335687-Halifax-withdrawing-from-Pet-Insurance-I-have-a-complicated-pet!

http://www.consumeractiongroup.co.uk/forum/showthread.php?334741-Lloyds-TSB-puling-out-of-Pet-insurance-Have-I-got-a-case

[hightail]

I think the pet insurance merry go round has got out of hand and insurers no longer find it profitable. There is a sort of unholy alliance between vets, manufacturers and insurers which is now imploding. When it was first brought out, pet insurance was intended as cover for rare and expensive emergencies. It's become an excuse for vets to carry out batteries of expensive tests and 'prescribe' a multitude of related and overpriced (but not life-saving) stuff which manufacturers brand as 'veterinary' products.

[citizenB]

Have just done a review of the policy and premiums.. Although I appear to have either mis filed or destroyed the renewal forms from prior to 2008

 

This is for the older dog - born September 2005 - Golden Retriever

 

renewal date February each year

2008 - Premium - £167.88

2009 - Premium - £227.88 - increase of 26.4%

2010 - Premium - £341.64 - increase of 33.3%

2011 - Premium - £528.00 - increase of 31.7%

2012 - Premium - £682.08 - increase of 27.7%

New clause in this year's policy - If a diagnosis has been made but not treated for 12 months - it will not be covered.. ever - I am advised that this new term would be unenforceable.

Amber has an allergy problem which is treated by vaccine every month. The vaccine is only available from Holland apparently and is possibly why it is extremely expensive.

[citizenB]

For the younger dog - Toby - JR - born 2010

 

2010 - Premium £224.52

2011 - Premium £250.92 - increase 3.5%

 

Toby has a "design fault" - his front leg joints where the ulna nerve grows into had closed early which prevented his front legs from growing correctly. I was referred to the Cambridge Vetinary college where he had an MRI scan. The Consultant advised that he wouldnt recommend surgery as Toby had already grown as much as he was going to. Had it been that Toby was a larger dog then surgery would have been carried out .. either breaking the front legs and extending them with rods or attaching stretchers where the bones were stretched a few mm each time until they were straightened.. needless to say, both procedures would have been horrendously expensive (although covered by the insurance) and very stressful for both dog and owner

 

Long term prognosis is that he will likely suffer from arthiritis much earlier than would be expected.

 

If M&S were to pull out of the market it would be a nightmare trying to assess what expenses we could possibly face in the future.

[BankFodder]

New clause in this year's policy - If a diagnosis has been made but not treated for 12 months - it will not be covered.. ever - I am advised that this new term would be unenforceable

 

I think that must be right. They can't suck you in to a new long term scheme and then start varying the terms of the scheme just like that. Even if the new term is introduced at the beginning of another annual contract, there is still an overreaching contract to supply you with cover on the same terms and to keep on offering you renewal on the same terms

 

This amounts to dishonest and unfair treatment by the HSBC

[citizenB]

Thank you

[citizenB]

50,000 pet owners face crippling vet bills after their insurance is axed

Marc Gander, founder of Consumer Action Group, which is preparing the legal challenge, said: ‘The bank has gone back on its promises and betrayed these policyholders.

 

 

 

http://www.dailymail.co.uk/news/arti...ance-axed.html

 

Edited February 4, 2012 by citizenB

[alanty]

i have the same problem about pet insurance with the halifax ,does anyone have a template letter to sendto them requesting fair that they honour their lifetime insurance promise

 

Alanty

[citizenB]

http://www.consumeractiongroup.co.uk/forum/showthread.php?339498-Lula-Belle-v-M-amp-S-Pet-Insurance

 

Lula-belle has her own thread now. Link above.

[JuryMan77]

I also have continous cover through the Co-Operative Bank. I hope I will also not end up in the same situation as you guys using Halifax etc.

 

Subbing as very important to me!

[citizenB]

JuryMan, welcome aboard.. if you do, then start a thread with all the details - The Co-operative claim to be "the ethical bank", so you might just be one of the luckier ones