Clients experiencing financial difficulties
On the 18th May 2020, the Financial Conduct Authority introduced new measures for insurance and premium finance firms to help clients in financial difficulty. Should you be experiencing financial hardship, or if things change at work or home, we may be able to help by:
- Re-assessing your demands & needs
- Reviewing levels of cover
- Adding or removing optional covers such as legal expenses
- Adding or removing people on your policy
Where amendments to your insurance cover does not alleviate your payment difficulties, you should contact your finance provider directly as further support may be available, which could potentially include:
- The possibility of deferring payments (refer to FAQ’s)
- Reduced repayments, or rescheduled term
- Waiving missed or late payment fees
- Amending your repayment date without any cost
- Reducing interest payments
It is important that customers do not leave themselves uninsured, so we encourage you to contact us to discuss the options available if you are struggling to afford your payments during this uncertain time.
We are here to help. Please leave your details and we will call you back at a time that suits you.
Please see our FAQ’s on Payment Deferrals
A payment deferral is an arrangement under which a firm permits a customer that pays their insurance premium in instalments to make no payments for a specified period
You should contact your insurer or finance provider direct
No, nor would the provider or any third party such as broker or debt collector be allowed to cancel the policy or collect payment during the deferral period
One to three months however, the provider can grant a longer extension should they wish
The Financial Conduct Authority (FCA) would not expect a customer to be liable to pay any charge or fee in connection with the granting of a payment deferral
Post and paper-based documents
We continue to handle all post (incoming and outgoing), and paper-based documents such as cheques, as quickly and efficiently as possible to ensure they are processed in a timely manner to safeguard policy cover. Should you have any concerns about instructions or cheques you have sent which may not have been processed, or documents you believe you are due from us, please contact us urgently.
ETHICAL. THOUGHTFUL. EXPERIENCED. Greenfield would rather advise you correctly and not win your business,
to make sure you don’t suffer in the long term.
Greenfield Insurance Services is an Independent Insurance Broker specialising in providing Insurance Solutions to Business and High Net Worth private clients.
Based in Park Gate, Southampton our Team of Insurance professionals are dedicated to providing string technical advice in order to hand pick policies to suit your individual needs. All of our technical staff undergo a continuous training programme and work to our customer charter. Having established the business in 1989, Stephen Greenfield was joined by James Mant as a full Equity partner in 2001. Following Stephen’s retirement in 2018, James took over control of the company.