Questions and Answers – Transition to Discretionary Mutual

Introduction Lady Grover’s Fund (”LGF”) is a Friendly Society authorised to provide health insurance. As such it is regulated by the Prudential Regulatory Authority (“PRA”) and the Financial Conduct Authority (“FCA”). It is run by an elected Committee (all volunteers) and employs a paid Chief Executive. Member Services including claims administration are provided by a trading subsidiary of the Officers Association (“OA”). The OA is a Charity, but not its subsidiary. In December 2020, we wrote to members outlining our proposal to rewrite the constitution and rules of LGF – it would still be Friendly Society, but the provision of claim benefits would be subject to Committee discretion. Members would […]