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Comments
Visualisation
As soon as the IDD layout ceased to be mandatory, my firm inserted the FSCS limits for deposit taking in our new document as I always thought the IDD was flawed as it didn't mention the then £32,500 cash limit. When the proverbial started hitting the fan with different insututions collpasing (Northern Rock being the first and the most recent being ARC and NDFA), I thought it would be a good idea to see if the F-pack had a flowchart diagram to show where the buck stopped with claims for each item, unfortunately there is not/was not one and with the Keydata debacle ongoing it looks like the F-pack itself is not sure where liability lies yet. Once it does I think whether the rules are tidied up or NOT a visible liabilily flowchart would be welcomed by clients and advisers alike as a "quick reference guide" even if not always entirely accurate, it would be fairer to consumers and one would hope coul;d be presented in a "clear, fair and not misleading" format.
Posted by: Phil Castle