Payment protection insurance (PPI)
FCA mulling deadline for PPI complaints
The Financial Conduct Authority is to consult on the introduction of a deadline for consumers intending to make a payment protection insurance complaint.
FCA sees 13.6% drop in GI complaints
Complaints to the Financial Conduct Authority about general insurance and "pure protection", a group that includes payment protection insurance, decreased by 13.6% in the first half of 2015.
Man handed four-year jail term for £170,000 PPI fraud
A 31-year-old man was jailed for four years at Newport Crown Court on 21 September for defrauding £170,000 from 1500 people through an unauthorised payment protection insurance claim-back scheme.
Allianz strikes PPI and GAP deal with Maiden
Affinity and white label specialist Maiden has extended its partnership with Allianz on developing branded insurance solutions to automotive original equipment manufacturers and their customers.
ABI poll shows consumers plagued by bogus insurance claims calls
The Association of British Insurers called for clampdown on rogue claims management companies today (8 September), as a survey shows people continue to be bombarded with nuisance calls and texts encouraging them to seek compensation for injuries they…
PPI accounts for 55% of all FOS complaints in first six months
Claims managers have been blamed for fuelling payment protection insurance complaints as the latest figures from the Financial Ombudsman Service show PPI accounted for more than half of all grievances in the first six months of 2015.
Insurers at risk of under-serving PPI market as distributors shy away from product
The negative perception attached to payment protection insurance following highly publicised mis-selling scandals could leave the market under-served and consumers short-changed on cover in the future.
Ombudsman reports no let-up in PPI complaints
The Financial Ombudsman Service received 4000 payment protection insurance complaints each week in the first quarter of 2015 with 74% of cases upheld.
Lloyds Banking Group to be hit with PPI fine in excess of £100m
Lloyds Banking Group is reportedly set to be slapped with a record fine of more than £100m by the Financial Conduct Authority for mishandling payment protection insurance complaints.
PPI complaints continue to hamper FOS progress
Payment protection insurance complaints accounted for 63% of all grievances dealt with by the Financial Ombudsman Service in 2014/2015.
FCA slaps Clydesdale Bank with £20.7m PPI fine
Clydesdale Bank has been fined more than £20.7m for serious failings in its payment protection insurance complaint handling processes; the largest ever PPI-related fine imposed by the Financial Conduct Authority.
ICO raids call centre making millions of daily PPI calls
The Information Commissioner's Office has raided a call centre in Hove thought to be responsible for making millions of nuisance calls about payment protection insurance and debt management.
FCA launches fresh PPI complaints investigation
The Financial Conduct Authority has announced a new probe into complaints over the sale of payment protection insurance that may see it set a time limit for complaints.
Research: State of the Broking Nation Part 2: Regulation, Commission & Politics
In the second in a series of reports covering brokers’ views of the issues affecting their sector, Post this week asks 20 senior industry figures their thoughts on regulation, commission and politics.
GI products in top three for FCA complaints
Financial Conduct Authority data has put general insurance products in the top three most complained about financial services products for the six months to June 2014.
Ombudsman sees non-PPI complaints rise 3% in H1
The Financial Ombudsman Service has reported a 3% increase in complaints about financial products other than PPI from the second half of 2013, including a 1% increase in insurance cases.
2.5m PPI complaints set for re-assessment
More than 2.5m complaints relating to payment protection cover will be re-assessed by banks, credit card providers and loan companies following a request from the Financial Conduct Authority.
Non‑Executive Directors: Talking NEDs
As a survey reveals a growing reluctance among board members to take on non‑executive positions, Post talks to some of insurance’s leading non‑executive directors to gauge their views on the evolving nature of the role
Lloyds Banking Group accused of cutting PPI compensation
Lloyds Banking Group has been accused of cutting the level of compensation awarded to around 25% of payment protection insurance claimants.
Allianz to pay Argos-parent £11m for warranty products
Allianz is to pay Argos-owner Home Retail Group £11m under a profit share agreement relating to the run-off of warranty insurance policies.
PPI issue far from being sorted, according to FOS
Payment protection insurance complaints made up 76% of all complaints referred to the Financial Ombudsman Service in the second half of 2013.
PPI claims 'yet to peak' warns FSCS boss
Claims numbers for payment protection insurance are yet to reach their zenith according to the head of the Financial Services Compensation Scheme.
Insurers faced 300 fewer Ombudsman complaints last quarter
Latest figures from the financial ombudsman show complaints relating to general insurance products, excluding payment protection cover, dropping to 6141 for the three months to 31 Dec.
RBS reserves additional £465m for PPI claims
Royal Bank of Scotland has reserved £465m for further claims of mis-sold payment protection insurance after instances failed to decline as expected.