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LIPS / API CLAIM DENIED

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LIPS / API CLAIM DENIED

Old 27th Aug 2016, 10:53
  #81 (permalink)  
 
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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.
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Old 30th Aug 2016, 05:58
  #82 (permalink)  
 
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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 ......
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Old 8th Nov 2017, 19:53
  #83 (permalink)  
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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."
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Old 9th Nov 2017, 04:16
  #84 (permalink)  
 
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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."
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Old 9th Nov 2017, 07:13
  #85 (permalink)  
 
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Because the money is held in Gurnsey I believe, and hence comes under UK law.
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Old 9th Nov 2017, 11:26
  #86 (permalink)  
 
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Not sure that's true.
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.
https://www.gfsc.gg/consumers/insurance/types-insurance
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Old 9th Nov 2017, 13:14
  #87 (permalink)  
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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."
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Old 10th Nov 2017, 07:17
  #88 (permalink)  
 
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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.
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Old 10th Nov 2017, 18:59
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OR

It isn't, apart from the Company contributions, over which they maintain authority until you leave.

Harry
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Old 12th Nov 2017, 20:24
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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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Old 18th Nov 2017, 13:35
  #91 (permalink)  
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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.

Last edited by footballfanppl; 15th Dec 2017 at 02:06. Reason: Edit
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Old 21st Nov 2017, 18:41
  #92 (permalink)  
 
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“This footballfanppl claim thing has been on here for months. Anyone know where this is heading or what the outcome ?”
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Old 22nd Nov 2017, 10:48
  #93 (permalink)  
 
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The questions you are asking, should have been addressed before you signed up.
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Old 24th Nov 2017, 17:18
  #94 (permalink)  
 
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Would give all the money back tomorrow to still be flying ......[/QUOTE]

A true aviator..
A rare breed!
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Old 27th Nov 2017, 14:14
  #95 (permalink)  
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School of flying

Originally Posted by correamd11
Would give all the money back tomorrow to still be flying ......
A true aviator..
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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Old 27th Nov 2017, 15:08
  #96 (permalink)  
 
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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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Old 28th Nov 2017, 03:35
  #97 (permalink)  
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E mail sent to LIPS API members in March

Is this the same e mail sent to some of my colleagues last March ?
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Old 30th Nov 2017, 13:29
  #98 (permalink)  
 
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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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Old 1st Dec 2017, 09:07
  #99 (permalink)  
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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.

Last edited by footballfanppl; 15th Dec 2017 at 01:48.
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Old 5th Dec 2017, 19:10
  #100 (permalink)  
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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"
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Last edited by footballfanppl; 14th Dec 2017 at 23:04. Reason: Edit
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