CMA slaps Ardonagh’s Paymentshield over PPI
The “significant” breaches meant some customers did not get annual review statements for up to six years.
Paymentshield, which is part of the Ardonagh Group, has been issued directions by the Competition and Markets Authority (CMA) over failures to send Payment Protection Insurance (PPI) annual reviews to some customers.
As part of this, Paymentshield will be required to commission an independent assurance audit of its procedures.
In addition, the company should also complete customer remediation relating to the current breach, including sending out apology letters.
Breach
The CMA detailed that
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Aviva to open branches in Chelmsford and Southampton
- Dual to open two UK offices as McGinn’s regional push gathers pace