FSCS predicts rise in PPI claims
Rising payment protection insurance (PPI) and investment claims are key drivers of compensation costs for the rest of 2009/10 and into 2010/11, according to the Financial Services Compensation Scheme.
The FSCS plan and budget provides its early assumptions about claims and associated funding needs for the coming financial year.
Overall, the FSCS expects the volume of claims it receives in traditional areas of its business, such as mortgage endowment and pensions review claims, to decrease.
But the FSCS expects PPI claims to increase significantly for the rest of 2009/10 and into 2010/11. This means the FSCS will issue more decisions next year as it completes claims arriving towards the end of
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