Consumer Alert regarding AAOption
Lloyd’s has become aware following a consumer enquiry that a business known as “AAOption”, which falsely alleges that it is protected by Lloyd’s.
Lloyd’s has become aware, following several enquiries from members of the public, that investors in a company operating under the name of “AAOption” have been advised that their funds are protected via coverage through “Lloyds Insurance”. These investors have subsequently been asked to pay further monies to AAOption to purchase an insurance policy prior to the release of their investments.
Consumers should be warned that Lloyd’s has not been able to identify any such coverage having been arranged with underwriters at Lloyd’s. It should be further noted that Lloyd’s does not operate under the name of Lloyds Insurance and the alleged coverage in question appears to be a form of Financial Guarantee coverage that is not underwritten at Lloyd’s.
As a result of the above consumers should be aware that it may be unsafe to continue doing business with AAOption if relying on this alleged coverage and therefore need to consider taking all necessary steps to protect their position.
Anyone who has been contacted by, or has done business with AAOption, and who has been provided with documentation alleging coverage at Lloyd’s, is asked to contact Lloyd’s in writing via the following e-mail address Financial.Crime@lloyds.com