James Hunter

Thursday, May 22, 2014

Homeserve UK fined over $75 million dollars!

This was the headline in a UK newspaper, Daily Online, Part of the Daily Mail. Does it sound familiar? HomeServe UK is the parent company of Homeserv USA.

The current conversion rate is 1 £ = $ 1.68, so the fine was $50 million.................... and in addition £16.8 million in refunds  ($28 million).

HomeServe is fined £30m: Business is given record punishment for mis-selling insurance for burst pipes and broken boilers

Read the article form your opinions. The article mentions a US Division, Homeserv USA would appear to be that division. The links at the bottom show some interesting dates, as early as 2010, how much research into Homeserv USA and it's parent Homeserve UK was done?

If your concerned about the potential  San Jose Water Company having done extensive research and doesn't do business with just anybody, not accounting for Homeserv USA revenues and  properly, transparently disclosing what is done with the revenues and what do we ratepayers should receive? Send an eMail as shown below and ask CPUC what do we get, how and when?

If you are concerned about the issues, send email to CPUC at:
District 5 United eForm eMail  Simply click on the "eForm eMail" and you will get a page to fill out the information and specify the reason for your opposition to the SJWC 44% Rate Increase, Homeserv USA water pipe insurance and your opinion of SJWC Customer Service and your concern about lack of openness and transparency, as well as concerned that we are not being informed in a timely manner, of the status of the 44% Rate Increase!

You can also send an email to CPUC Public Advisopublic.advisor@cpuc.ca.gov  The Public Advisor will insure your email will be sent to all the appropriate CPUC staff members.

Other people to drop an email (note) and express your opinion are:
  • Scott Herhold, San Jose Mercury News, sherhold@mercurynews.com
  • Julie Putnam, NBC Channel 5, julie.putnam@nbcuni.com
Other links, on this news:
  • BBC online article, on the 30 million pond fine
  • The Guardian article, "Is home emergency insurance the next PPI mis-selling scandal. As HomeServe faces £34.5m fine, this is what it means to its two million-plus customers"
  • Financial Conduct Agency, Press Release, HomeServe fined £30 million for widespread failings
  • Financial Times, Homeserve UK revenue drops and customer base drops

No comments:

Post a Comment