Payment protection insurance (PPI)
Trade body warns against using claims management companies
The British Bankers’ Association (BBA) has said the increase in Payment Protection Insurance (PPI) claims was “not unexpected” and warned consumers against using claims management companies to make a claim.
PPI payments hit £215m in first half of 2011
The Financial Services Authority (FSA) has revealed that consumers who complained about being mis-sold payment protection insurance (PPI) received £215m from firms in the first six months of 2011.
PPI complaints against banks continue to rise
Payment protection insurance (PPI) complaints at Barclays and Lloyds Banking Group rose by up to 30% in the first half of this year compared to the previous six months and may yet rise further.
PPI mis-selling crisis strikes Ireland
The Irish Central Bank has launched an investigation into the mis-selling of payment protection insurance on loans.
Insurance companies best of a bad bunch in FSA's complaints framework
Only 51% of insurance companies have nominated an executive responsible for complaints according to research for software firm, Charter UK.
Nationwide enters short term IP market
Nationwide has become the latest provider to launch a short term income protection (IP) product as an alternative to payment protection insurance (PPI).
Insurance Age blog: Why can't banks leave insurance to the experts?
Personally I am quite grateful to banks and the practice of conditional lending. If banks hadn't been doing this and luring small commercial clients away from brokers then I wouldn't have written a story late last year exposing the whole grubby little…
New quarterly FOS data indicates PPI complaints set to double
The Financial Ombudsman Service’s (FOS) data for the first quarter of the financial year 2011/2012 has revealed that it received over 81,000 complaints – more than double the number received in the same period last year.
Pointing the finger
What exactly does the FSA do to warrant all the cash it takes from brokers and tax payers? Our anonymous columnist would love to find out
Universal Provident pulls away from Great Lakes
Universal Provident has announced that it is to bring a majority of the underwriting for its product range in–house and sister company Personal Assurance will now act as the insurer.
IIB calls for FSCS review after 900% levy increase
The Institute of Insurance Brokers (IIB) has presented research to the All Party Parliamentary Group on Insurance and Financial Services (APPGIFS) showing that brokers with an income of £500,000, £1m or £5m have seen their Financial Services Compensation…
Claims volume forces FSCS to exceed budget
The cost of running the Financial Services Compensation Scheme’s (FSCS) “business as usual” workload in 2010/11 was £37m, according to its Annual Report and Accounts 2010/11.
A mis-selling disaster
If the PPI protection scandal leaves a bill for £10bn, it could turn into a battle for survival for many brokers, says Tony Cornell
Ombudsman slams claims companies over PPI scandal
Claims management companies (CMCs) have “exploited” payment protection insurance (PPI) complaints, according to the Financial Ombudsman Service’s (FOS) legal director.
FCA needs quantum leap to achieve goals
The new Financial Conduct Authority (FCA) must deliver a quantum leap in effective regulation, according to Kay Blair, vice chair of the Financial Services Consumer Panel.
FSCS adds journalist to board
The Financial Services Authority has appointed Liz Barclay, David Weymouth and Jayne Nickalls as non-executive directors to the board of the Financial Services Compensation Scheme (FSCS).
Ombudsman calls for more decisive action from FSA
One of the Financial Ombudsman Service’s (FOS) principal ombudsman, Tony Boorman, has questioned the benefits of a complaints-led strategy, calling for a more proactive approach from the regulator.
HSBC gets extension to PPI complaints procedure
The Financial Services Authority (FSA) has confirmed that it has agreed to temporary arrangements for HSBC to handle payment protection insurance (PPI) complaints.
Bottlenecking leads to PPI extension for top culprits
The Financial Services Authority (FSA) has agreed to temporary arrangements with extended timeframes for Barclays, Lloyds Banking Group and RBS to handle payment protection insurance (PPI) complaints.
Insurance Age blog: Insurance isn't the problem says Galbraith
In a special guest blog, chief executive of the British Insurance Brokers' Association, Eric Galbraith, argues that the industry needs to work together to improve public perception.
PPI broker enters administration
The Financial Services Compensation Scheme (FSCS) has confirmed that Wilmslow Financial Services has been put into administration.
Consumers urged to avoid claims managment companies in PPI cases
Consumers could lose out on over £2bn in payment protection insurance (PPI) redress by going to claims management companies according to consumer protection body, Which?
Conference may hold long term PPI answers
Tomorrow’s conference on banking regulation may provide some much needed clarity on the future handling of payment protection insurance (PPI) complaints, according to Paul Clark, CEO of Charter UK.