Nationwide FlexPlus current account - travel insurance policy change

[fossyant]

Its probably not been thought through or really spotted by Nationwide as their underwriting will be with someone like AIG and may have just quoted the changes.

Our annual travel insurance doesnt include hazardous sports and that includes MTB. My wife won't let me do it on holiday anyway.

The company my wife works for is moving some of our old pensions to reduce charges and are also quoting for life insurance. Her colleague has said 'it's not going to be too expensive as you aren't doing hazardous activity, erm MTB is. Riding to work isn't classed as hazardous

Unfortunately it's the underwriters mitigating any claims.

 

[Tim Hall]

There's an article on road.cc about this here.

The response from Nationwide when asked why they had brought in the change was:

“The change made to the policy concerning the wearing of bicycle helmets while cycling is intended to provide greater clarity regarding the ‘reasonable care’ we expect our customers to take while on holiday. This change is intended to help to protect our members’ welfare. “Whilst we accept an individual’s choice to wear a helmet or not, there is an increased risk of head injury for those people who choose not to wear a helmet,”

 

[Drago]

Ok just read the policy under cycling it does not mention a helmet
View attachment 362653

Under hazardous activities it does

View attachment 362654

Just got to check they still cover cycle touring

Interesting that they restrict you to what is, statistically at least, the most dangerous category of motorcycle.

 

[sbird]

Had a Final Response from Nationwide last week. Of course they haven't relented; yet.

Receiving that final response allowed me to submit a complaint with the Financial Ombudsman Service. Today they called and said they would investigate further.

It's not over yet.

 

[PhilDawson8270]

FOS, because you dislike a product? You could of course just take your money elsewhere surely?

 

[mjr]

FOS, because you dislike a product? You could of course just take your money elsewhere surely?

It's a midterm change to an existing product, arguably a form of bait-and-switch. I also suspect it's based on prejudice rather than evidence. Both of these seem like valid grounds for complaint to the ombudsman.

Because I'd not yet get around to switching to FlexPlus as I intended, this has stopped me (now I'm looking for somewhere else to move from the co-op bank that is gradually sliding backwards) but I'm not surprised if cyclists who had got it are upset at this change.

 

[PhilDawson8270]

Surely if it's a mid term change it only will affect you when your current term ends, or you have the option to exit if you disagree with the terms.

Prejudice vs evidence isn't really relevant considering cyclists aren't really a protected minority's, and it's a private company that can choose what services they do wish to offer.

Devils advocate: as a nationwide customer, I don't wish to partially fund cyclists who are not interested in minimising the risk of personal injury.

 

[Tanis8472]

 

[mjr]

Firstly, as a Nationwide customer, I'm not particularly keen on them encouraging self harm (which there's at least as much evidence that cycle helmet promotion is).

Secondly, it's a mutual society, not a private company.