| Northern Bank has taken out a travel insurance policy with New Hampshire Insurance Company. Rights under this policy are held in trust for MasterCard Corporate Platinum credit cardholders. A summary of the cover is set out in the attached table. A copy of the full coverage is available on request. As a beneficiary, you will not have a traditional contract of insurance, nor will you be a policyholder or have rights under the policy, but you will be able to benefit from claims if you suffer an insured loss.
New Hampshire Insurance Company is a company incorporated in the State of Pennysylvania, USA with its principal place of business at 70 Pine Street, New York, NY 10270 USA. It is regulated by The Office of Thrift Supervision at federal level and by the NY Insurance Commissioner at State level. Its UK branch of The AIG Building, 58, Fenchurch Street, London, EC3M 4AB, which underwrote the policy, is authorised and regulated by the Financial Services Authority in respect of its insurance business.
Northern Bank is authorised and regulated by the Financial Services Authority. However, the Financial Services Authority does not regulate the provision of this benefit; the Cardholder and the other beneficiaries will not qualify as a customer of Northern Bank or of New Hampshire Insurance Company under the rules of the Financial Services Authority and will not be entitled to the protection of those rules. In the event of the insolvency of the New Hampshire Insurance Company, compensation from the Financial Services Compensation Scheme will not be available.
New Hampshire Insurance Company and Northern Bank will do their best to sort out any complaint directly with the Cardholder, but if they are unable to do this to the Cardholder’s satisfaction the Cardholder may be entitled to refer the matter to the Financial Ombudsman Service for further investigation (Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR). | | |