LIPS / API CLAIM DENIED
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Except the problem wasn't pre-existing. It is a completely different issue.
HW are using it as a tenuous link to deny.
Guys the case is heading to court, the consultant on the case stated that he spent about 25% of his professional time writing up reports to prove that this get of jail cause, used by many insurance agencies are false.
HW are using it as a tenuous link to deny.
Guys the case is heading to court, the consultant on the case stated that he spent about 25% of his professional time writing up reports to prove that this get of jail cause, used by many insurance agencies are false.
Join Date: Sep 2008
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I lost my medical last year
EK Paid then LIPS paid (I know of one other colleague who was also paid)
Happy to take any questions privately or publicly.
Would give all the money back tomorrow to still be flying ......
EK Paid then LIPS paid (I know of one other colleague who was also paid)
Happy to take any questions privately or publicly.
Would give all the money back tomorrow to still be flying ......
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Loss of License insurance :Insurance Regulations
I had no idea there were such serious consequences for conducting insurance business without a license.
Wouldn't envy any Financial Institution or individual found culpable for this:
"Carrying on a regulated activity in the UK without authorisation or the benefit of an applicable exemption, such as effecting and carrying out contracts of insurance, is a criminal offence for which the PRA or FCA can instigate proceedings and for which, on conviction, a fine or imprisonment can be imposed under section 23 of the Financial Services and Markets Act 2000 (FSMA). Notwithstanding the illegality of the unauthorised insurance contract in question, the FSMA provides that the contract (although unenforceable by the insurer) is enforceable by the insured insofar as the insured can recover sums paid under the policy."
Wouldn't envy any Financial Institution or individual found culpable for this:
"Carrying on a regulated activity in the UK without authorisation or the benefit of an applicable exemption, such as effecting and carrying out contracts of insurance, is a criminal offence for which the PRA or FCA can instigate proceedings and for which, on conviction, a fine or imprisonment can be imposed under section 23 of the Financial Services and Markets Act 2000 (FSMA). Notwithstanding the illegality of the unauthorised insurance contract in question, the FSMA provides that the contract (although unenforceable by the insurer) is enforceable by the insured insofar as the insured can recover sums paid under the policy."
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What’s your point? Most of us don’t give a damn about UK law, we're in the ME!
Originally Posted by footballfanppl
I had no idea there were such serious consequences for conducting insurance business without a license.
Wouldn't envy any Financial Institution or individual found culpable for this:
"Carrying on a regulated activity in the UK without authorisation or the benefit of an applicable exemption, such as effecting and carrying out contracts of insurance, is a criminal offence for which the PRA or FCA can instigate proceedings and for which, on conviction, a fine or imprisonment can be imposed under section 23 of the Financial Services and Markets Act 2000 (FSMA). Notwithstanding the illegality of the unauthorised insurance contract in question, the FSMA provides that the contract (although unenforceable by the insurer) is enforceable by the insured insofar as the insured can recover sums paid under the policy."
Wouldn't envy any Financial Institution or individual found culpable for this:
"Carrying on a regulated activity in the UK without authorisation or the benefit of an applicable exemption, such as effecting and carrying out contracts of insurance, is a criminal offence for which the PRA or FCA can instigate proceedings and for which, on conviction, a fine or imprisonment can be imposed under section 23 of the Financial Services and Markets Act 2000 (FSMA). Notwithstanding the illegality of the unauthorised insurance contract in question, the FSMA provides that the contract (although unenforceable by the insurer) is enforceable by the insured insofar as the insured can recover sums paid under the policy."
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Not sure that's true.
https://www.gfsc.gg/consumers/insurance/types-insurance
The Channel Islands are not part of the UK or members of the European Union and may be specifically excluded from cover that is available to those living in the UK. For example, if you live in the Channel Islands, you are not eligible for a European Health Insurance Card.
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Subject Financial criminal law / investigation: not policy exclusion
The post below highlights the serious and life/career changing consequences facing any Financial Institution or Individual manager(s) representing that entity being the subjects under investigation and more relevantly being found guilty of a finance crime.
On the question of Jurisdiction The Channel Islands Financial Law mirrors UK Finance law both in principle and consequence IE: Custodial sentence and /or significant fines for the offenders.
(original post earlier)
I had no idea there were such serious consequences for conducting insurance business without a license.
Wouldn't envy any Financial Institution or individual found culpable for this:
"Carrying on a regulated activity in the UK without authorisation or the benefit of an applicable exemption, such as effecting and carrying out contracts of insurance, is a criminal offence for which the PRA or FCA can instigate proceedings and for which, on conviction, a fine or imprisonment can be imposed under section 23 of the Financial Services and Markets Act 2000 (FSMA). Notwithstanding the illegality of the unauthorised insurance contract in question, the FSMA provides that the contract (although unenforceable by the insurer) is enforceable by the insured insofar as the insured can recover sums paid under the policy."
On the question of Jurisdiction The Channel Islands Financial Law mirrors UK Finance law both in principle and consequence IE: Custodial sentence and /or significant fines for the offenders.
(original post earlier)
I had no idea there were such serious consequences for conducting insurance business without a license.
Wouldn't envy any Financial Institution or individual found culpable for this:
"Carrying on a regulated activity in the UK without authorisation or the benefit of an applicable exemption, such as effecting and carrying out contracts of insurance, is a criminal offence for which the PRA or FCA can instigate proceedings and for which, on conviction, a fine or imprisonment can be imposed under section 23 of the Financial Services and Markets Act 2000 (FSMA). Notwithstanding the illegality of the unauthorised insurance contract in question, the FSMA provides that the contract (although unenforceable by the insurer) is enforceable by the insured insofar as the insured can recover sums paid under the policy."
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IOM, Channel Islands still have laws which offer protection. And tax avoidance, depending on what you’re trying to do.
Unless the money is in the Middle East or Africa, things should be transparent. The same way that theoretically your provident shouldn’t be subject to interference by EK in the Isle of Man.
Unless the money is in the Middle East or Africa, things should be transparent. The same way that theoretically your provident shouldn’t be subject to interference by EK in the Isle of Man.
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API pilot "managers" resignations
Has anyone noticed there has been a spate of API pilot fund manager resignations these past 12 months, indeed at a rate well above and beyond what could be reasonably attributed to "natural" attrition.
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Pilot fund manager mandate and accountability
People and in particular those already receiving benefits from the LIPS API loss of license insurance scheme say that the over 20 million dirhams of pilot contributed funds needs taking care of.
How many LIPS API pilots who pay their LIPS API loss of license insurance premiums can honestly say they "know" who the former (now resigned ) and the acting pilot managers of LIPS API are: by "know" I mean how many pilot members could call them up directly on their mobile phone right now ?
More importantly if the LIPS API insurance scheme pilot manager were to answer your phone call, how many of those pilot managers could provide you with a curriculum vitae summarizing their Financial qualification to manage such a substantial amount of money.
Why were thousands of LIPS API Insurance scheme premium paying pilots not given the correct instruction and information from the outset, questions about incompetence, transparency and accountability need to be presented and presented now before it is too late to save this pilots loss of license insurance scheme.
Members need to ask " Who has control? " and with this information obtain honest and verifiable answers to the questions above.
How many LIPS API pilots who pay their LIPS API loss of license insurance premiums can honestly say they "know" who the former (now resigned ) and the acting pilot managers of LIPS API are: by "know" I mean how many pilot members could call them up directly on their mobile phone right now ?
More importantly if the LIPS API insurance scheme pilot manager were to answer your phone call, how many of those pilot managers could provide you with a curriculum vitae summarizing their Financial qualification to manage such a substantial amount of money.
Why were thousands of LIPS API Insurance scheme premium paying pilots not given the correct instruction and information from the outset, questions about incompetence, transparency and accountability need to be presented and presented now before it is too late to save this pilots loss of license insurance scheme.
Members need to ask " Who has control? " and with this information obtain honest and verifiable answers to the questions above.
Last edited by footballfanppl; 15th Dec 2017 at 02:06. Reason: Edit
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School of flying
Originally Posted by correamd11
Would give all the money back tomorrow to still be flying ......
A rare breed![/QUOTE]
Judging by posts a year back he probably went to the same school of Due diligence and Compliance as Dune.
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What is all this about ????? Then
Originally Posted by Talparc
The questions you are asking, should have been addressed before you signed up.
“ Has anyone else received this e mail from LIPS/ API recently
.Hi Member,
Our records do not show that you have filled out the onlineapplication to the API trust. Your application to the Trustee is a mandatory requirementof the Guernsey Financial Services Commission no matter howlong your have been a member of LIPS. BLAH..BLAH… BLAH…
…………………..
We apologize if you received this message in erroror if you have already verified your e mail and started the application to theAPI Trust, we.re not perfect ( ! ) ….etc
Why am I being asked for all this paperwork filling information: I have precious free time as it is
. What is all this about as I thought I had completed my application to the scheme and was already covered with the API insurance protection ?” 
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Who are the current API board managers?
Originally Posted by Talparc
The questions you are asking, should have been addressed before you signed up.
“Can anyone verify who the active API pilot committee managers are and pm me their contact details . Word on the street is that this reference to them on the API website is not accurate.”
(Screen shot below on todays API website )
API.jpg
Last edited by Thunderbirds54321; 30th Nov 2017 at 20:14.
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DUE DILIGENCE : The Double Edge Sword :all denied insurance premium subscribers PM me. I hold factual information of significant value. FOR THE FEW ALREADY RECEIVING BENEFIT YOUR CONTINUED BENEFITS ARE UNDER THREAT.
Fact is the, excuse "we are not perfect" will not cut the mustard with the Financial Regulatory Authorities....non compliance is non compliance.
Fact is the, excuse "we are not perfect" will not cut the mustard with the Financial Regulatory Authorities....non compliance is non compliance.
Last edited by footballfanppl; 15th Dec 2017 at 01:48.
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Don't forget your propeller underpants
Just another wee question for you (now silent) Bell for whom the Dune tolls....do the LIPS API pilot managers have an open mandate to spend the entire fund on a single legal case of wrongful denial?
Guess not, and yet those same LIPS API pilot board individuals are quite happy to spend substantial pilot contributed funds held "in good faith"at SOVEREIGN TRUST (Guernsey) under Managing Director Hare "in good faith" on one single upcoming court case.
Should they lose this case they will be liable for plaintiff costs and same will be drawn from ...you guessed it....the funds intended to support pilots who can no longer fly professionally.
Ive heard some excellent advice for the LIPS API pilot board and repeat it here ....... "IF YOU FIND YOURSELF DIGGING A HOLE YOU DIDN,T INTEND THEN THE SOLUTION IS TO STOP DIGGING"
Guess not, and yet those same LIPS API pilot board individuals are quite happy to spend substantial pilot contributed funds held "in good faith"at SOVEREIGN TRUST (Guernsey) under Managing Director Hare "in good faith" on one single upcoming court case.
Should they lose this case they will be liable for plaintiff costs and same will be drawn from ...you guessed it....the funds intended to support pilots who can no longer fly professionally.
Ive heard some excellent advice for the LIPS API pilot board and repeat it here ....... "IF YOU FIND YOURSELF DIGGING A HOLE YOU DIDN,T INTEND THEN THE SOLUTION IS TO STOP DIGGING"
Last edited by footballfanppl; 14th Dec 2017 at 23:04. Reason: Edit
