@Bazinga007
Top level marketing, everybody now knows John Lewis do insurance and it's hardly costing them a penny.
Top level marketing?
John Lewis, we guarantee not to pay.
This may not be the Brand Recognition they were looking for.
As I understand before they issued the statement below their twitter account told people that non-accidental damage was covered?
They have an official FCA warning on the website, and have to pull a team together to manage the direct fallout from that.
That official statement was from the Board.
Resolution is from board downward, the most senior management are working on a failed ad not future planning.
The company's marketing has shown, to the FCS regulator, that they don't understand the basics of selling this product. Note they also sell other insurance products.
Note the change in tone pre and post FCA contact.
mobile.twitter.com/johnlewisretail/status/1448673189740138502
They carry the FCA brand.
The FCA brand has also been tarnished in a very public way by this top level marketing.
They are small fish in a big pond but if anything else goes "tits up" in the future guess who else get blamed for not doing their job?
The FCA are very brand conscious and will be watching and reading about their name being published in the media.
That ad will cost JL and as merrymouse pointed out the reputation risk effects their suppliers too.