Payment protection insurance (PPI)
Insurance products account for two thirds of FCA complaints as PPI claims surge
Complaints about payment protection insurance increased 34% in the first half of 2019 in the run-up to 29 August deadline for refunds, according to figures released by the Financial Conduct Authority.
Analysis: Should the FCA impose fee caps on CMCs?
The Financial Conduct Authority is working to limit charges for claims management companies’ services, but will new regulation actually be a double-edged sword for consumers?
Fee caps for CMCs could lead to 'clear consumer detriment'
The Association of Consumer Support Organisations has urged the Financial Conduct Authority to consider how the market adapts to regulatory change before considering fee caps on claims management companies.
PPI complaints jump almost two thirds following £4.9m Arnie-fronted campaign
Consumers have netted a collective £3.7bn since the Financial Conduct Authority began running its Arnold Schwarzenegger-fronted payment protection insurance refund campaign.
Dual pricing complaint likely to result in ‘significant market change’
The super complaint over dual pricing is likely to result in “serious and profound” change in the insurance market, analysts believe.
Insurers welcome government crackdown on 'cold call sharks'
Insurers have welcomed rules aimed at limiting claims management companies from calling vast swathes of the population.
Regulation of CMCs to cost £16.8m
The cost of regulating claims management companies could be £16.8m with the bill falling on the firms themselves, according to the Financial Conduct Authority.
Over a million flock to FCA PPI website during £4.9m Arnie campaign
Almost 1.7m individuals have viewed the FCA’s PPI website since it debuted its Arnold Schwarzenegger-fronted advertising campaign.
Ombudsman launches review following undercover investigation
Thousands of complaints against insurers may need to be re-examined after a TV investigation found staff at the Financial Ombudsman Service were woefully undertrained.
Post Power List 2018: Andrew Bailey
CEO, Financial Conduct Authority
FCA sees 3.32 million financial services complaints in H1
The Financial Conduct Authority received 3.32 million complaints about financial services in the first six months of 2017.
FCA paid £4.9m in production costs on Schwarzenegger PPI advert
Exclusive: The Financial Conduct Authority spent £4.9m in production costs on a TV advert featuring the robotic head of Arnold Schwarzenegger.
QBE to repay millions in Australia following add-on review
Australian giant QBE will repay customers A$15.9m (£9.6m) following a review of add-on insurance sales by the Australian Securities and Investments Commission.
Claims firm fined £400,000 for 100 million nuisance calls
A claims management company has been fined a record fine of £400,000 for making over 100 million nuisance calls.
FCA publishes first complaints figures since rule change
The Financial Conduct Authority has published its first set of complaints data since new rules came into force in June last year.
Brokers: The unbearable weight of regulation
Brokers are becoming increasingly frustrated with the Financial Conduct Authority, citing rising compliance costs and an overbearing regulatory regime as hurdles to growth and innovation
Brokers slapped with £10m increase to FSCS levy
Brokers will face an extra £10m levy over last year as a result of an expected spike in the number of payment protection insurance claims.
FCA sets deadline for PPI claims
The Financial Conduct Authority has put a deadline on payment protection insurance claims, bringing to a close a chapter that has cost firms billions in compensation.
Ageas's Boisseau on the importance of using technology for transparency
Mis-selling of payment protection insurance has done little to help our industry and the issue of trust for insurance providers.
FCA extends timetable on PPI complaints deadline
The Financial Conduct Authority said it needs more time to make a decision on whether it will impose a cut-off deadline for Payment Protection Insurance claims.
FCA to go ahead with PPI complaint deadline
The Financial Conduct Authority has confirmed it will press on with plans to impose a deadline for payment protection insurance complaints.
FCA finds PPI complaints rise but other GI concerns continue to fall
Payment protection insurance complaints have increased but general insurance claims outside of this category have continued to fall, according to the Financial Conduct Authority's latest report.
MoJ proposes capping CMCs' PPI fees
The Ministry of Justice has proposed capping fees charged by claims management companies handling mis-sold payment protection insurance claims, in a consultation launching today (15 February).
FCA calls for deadline and consumer-awareness campaign on PPI
A firm deadline on payment protection insurance claims and an industry-funded communication campaign have been outlined in the Financial Conduct Authority’s consultation paper, released today (26 November).