Payment protection insurance (PPI)
FOS receives record-breaking number of PPI complaints
The Financial Ombudsman Service (FOS) has published its annual review covering the 2010/11 financial year.
Customers may eventually bear brunt of PPI compensation
The decision by the banking sector not to appeal against the recent payment protection insurance (PPI) ruling may not be all good news for consumers it has emerged.
Calls for banks to settle PPI claims swiftly
The Financial Services Authority (FSA) has welcomed the decision by the British Bankers’ Association (BBA) and Nemo Personal Finance (Nemo) to accept the High Court’s dismissal of their legal challenge to the FSA’s payment protection insurance (PPI)…
Banks' PPI decision could be bad news for brokers
The banking industry's decision to abandon its appeal against the High Court's judgment on the mis-selling of payment protection insurance (PPI) could lead to a further flood of claims.
Banks abandon PPI appeal
The British Bankers' Association (BBA) will not appeal the High Court judgment on the mis-selling of payment protection insurance (PPI).
Editor’s letter – May 2011
Judging by our reportage on regulation, the powers that be in Whitehall have no intention of relieving the pressure on brokers. This is despite the fact that the British Insurance Brokers’ Association (Biba) commissioned independent research that found…
FSCS pledges to target insurers in the wake of High Court PPI ruling
The Financial Services Compensation Scheme’s (FSCS) confirmation that it will pursue recoveries from insurers involved in the mis-selling of payment protection insurance (PPI) has triggered debate over where the responsibility for the whole debacle…
New insurance MD for Barclays
Barclays has appointed Kieran Murphy to the role of managing director of Barclays Insurance for the bank's UK retail business.
PPI meeting hopes to quash bad blood in industry
A meeting has been scheduled between the old payment protection insurance (PPI) market and the long term income protection market.
FSCS may hold insurers liable for PPI fines
The Financial Services Compensation Scheme (FSCS) has confirmed that it could pursue recoveries from insurers who permitted failed credit brokers to act as their agents.
PPI judgement welcomed by FSA but disappoints banks
The Financial Services Authority (FSA) has welcomed the High Court’s dismissal of the British Bankers’ Association’s (BBA) legal challenge to its payment protection insurance (PPI) measures.
Banks lose PPI legal challenge
The High Court has ruled in favour of the approach taken by the Financial Ombudsman Service (FOS) and Financial Services Authority (FSA) in the handling of payment protection insurance complaints.
FSCS GI levy rises but not as much as feared
The Financial Services Compensation Scheme (FSCS) has set the 2011/12 levy on general insurance (GI) intermediaries at £69.5m.
Competition Commission lays down rules over sale of PPI
The Competition Commission (CC) has published a list of requirements relating to the sale of payment protection insurance (PPI) in a bid to remedy the point of sale issues that have dogged he sector.
Payment protection market urged to respond to Government consultation before deadline
As the period for the Treasury’s consultation on Simple Financial Products draws to a close, the protection insurance industry has been urged to respond or live with the consequences.
PPI bill could hit £4bn
Jonathan Evans MP has raised the prospect that the overall liability for payment protection insurance (PPI) mis-selling could reach £4bn.
FSCS claws back some cash from failed PPI firm
The Financial Services Compensation Scheme (FSCS) has declared Welcome Financial Services (WFS) in default.
Regulation: Abiding by the rules
As the list of financial regulators grows so, it appears, does the size of their rule books. Branko Bjelobaba hopes a review of the FSA
News analysis - regulation: increasingly oppressive FSCS costs could hamper recruitmentConcern that jobs may be lost as brokers struggle to foot rising bill
The recent increase of over 50% in the Financial Services Compensation Scheme (FSCS) levy for brokers has raised fears that it could cause redundancies in the industry.
Products/schemes: What Insure launches IP product that can be tailored to individual needs
Online wholesale distributor What Insure has released an income protection insurance product offering what it says is a "modular approach to levels of cover".
News analyisis - income protection: Aviva's short-term IP launch to support creditor market
Aviva is the latest insurer to confirm its commitment to the creditor market with the release of its short-term income protection (IP) product.
ABI casts doubt on FOS' need to increase reserves
The Association of British Insurers (ABI) has responded to the Financial Ombudsman Service (FOS) by questioning the need for an increase in reserves and calling for a push on transparency.
Biba demands action from regulator on FSCS
Eric Galbraith, chief executive of the British Insurance Brokers’ Association (Biba), has called on the Financial Services Authority (FSA) to accelerate its fundamental review of the Financial Services Compensation Scheme (FSCS).
PPI complaints surge again
The Financial Ombudsman Service (FOS) has revealed that payment protection insurance (PPI) complaints rose to 24,955 for the period October to December last year, up 17% from the previous three months.