Payment protection insurance (PPI)
Interview - Glynn Keeling: Out from under the radar
With a high-profile Ebay affinity deal recently signed, Leigh Jackson met Autonet managing director Glynn Keeling to talk about the firm's foundations and its future plans.
FSA hands out £10k broker fine
The Financial Services Authority has fined David Head, director of Essex based mortgage and insurance broker network FT Compliance Services £10,500.
Insurance brokers under threat from huge increase in cost of regulation
The British Association of Insurance Brokers said that the recent invoices received by members from the Financial Services Authority for the 2010-11 fees and levies have highlighted the inequality of the current funding of the Financial Services…
FSA extends PPI referrals
The Financial Services Authority has introduced a temporary rule to allow payment protection insurance policyholders more time to refer complaints to the Financial Ombudsman Service.
FSA extends PPI complaint time
The Financial Services Authority has introduced a temporary rule to allow payment protection insurance policyholders more time to refer complaints to the Financial Ombudsman Service.
FOS blames claims management firms for rise in PPI complaints
The Financial Ombudsman Service has raised concerns over claims management companies taking advantage of problems in the payment protection insurance market to bring often spurious complaints.
L&G wins new GI deal
Legal & General has been appointed to the insurer panel at Pink Home Loans and BDS Mortgage Group to provide general insurance products.
POS PPI ban confirmed
The Competition Commission has reaffirmed its decision to provisionally introduce a point-of-sale prohibition on payment protection insurance.
FOS: Insurance disputes up 38% in 2009/10 driven by PPI
The Financial Ombudsman Service – the independent organisation that settles disputes between consumers and financial companies – today said it resolved a record 166 321 disputes – a 46% annual increase – in the period 2009/10 resulting in compensation…
Competition Commission: Point-of-sale PPI should be banned
The Competition Commission has provisionally decided that consumers will benefit from the introduction of a point-of-sale prohibition for all forms of payment protection insurance, with the exception of retail PPI.
Biba launches PPI scheme
The British Insurance Brokers’ Association and Millennium Insurance have joined forces to launch new committed payments protection scheme.
Exeter Friendly joins Protect
Income protection specialists Exeter Friendly Society has joined credit insurance trade body Protect under the umbrella of its Pioneer brand.
MPPI product launched
Unemployment, accident and sickness specialist British Insurance has launched its first direct mortgage payment protection insurance product.
PPI industry faces reimbursement cost of up to £3bn
The Financial Services Authority consultation document on PPI mis-selling has extremely costly and serious ramifications for the industry according to financial research company Defaqto.
FSA targets Solvency II and PPI in business plan
The Fiancial Services Authority will focus on Solvency II preparation and the conduct of payment protection insurance providers in its 2010/11 business plan.
Exeter and Pioneer launch online broker portal
Specialist PMI provider Exeter Friendly has unveiled a new advisor portal in conjunction with income protection insurer Pioneer.
IIB disappointed with “bleak” FSA fee and levy proposals
The Institute of Insurance Brokers has revealed its disappointment with the FSA’s proposals to change its fee structure and increase Financial Services Compensation Scheme levies for 2010/11.
FSA disappointed with industry criticism of PPI reforms
The Financial Services Authority has published feedback to its plans to reform the Payment Protection Insurance (PPI) market and announced a further six week consultation on its revised package of measures.
Ex-Towergate boss to target US market
British Insurance founder Simon Burgess has left the Towergate-owned company to set up an income protection insurance firm in the US.
Lloyds GI book hit by £156m rise in claims
The group saw its general insurance profit dip 32% in 2009 to £367m (2008: 537m) and overall insurance arm profit fall 34% to £1.2bn (2008: £1.54bn).
Compare expands to meet demand
Compare the market has expanded with three new appointments, director of insurance partners, director of money and senior manager for life and general insurance.
Biba: FSCS PPI levy “galling” for brokers
The British Insurance Brokers’ Association has claimed that the Financial Services Compensation Scheme an interim levy of £20m to fund failures involving the sale of payment protection insurance is “galling” for insurance brokers.
FSCS predicts increase in PPI compensation claims
The Financial Services Compensation Scheme has forecasted an increase in payment protection insurance compensation claims for the rest of the financial year and into 2010/11 - which could increase the levies on insurance firms.
Select & Protect extends Tenet deal
Select & Protect has broadened its relationship with the Tenet Group by partnering with Tenet Supports Services and Premier Partnership to offer members its full range of general insurance products.