Payment protection insurance (PPI)
BIS Countdown: Sir John Grieve - In the eye of the storm
As deputy governor of the Bank of England, Sir John Gieve was in the centre of the worst financial crisis for a century. What has hindsight revealed and what are his views on the subsequent regulatory shake-up?
BIS countdown - John Pollock: Managing the media
Legal & General’s John Pollock has a passion to improve the social profile of the insurance industry. He tells Jonathan Swift how it needs to unite to build consumer trust and improve its media standing.
Irish Central Bank launches PPI mis-selling investigation
The Irish Independent has reported that the Central Bank has launched a probe because of fears that consumers may have been mis-sold payment protection insurance on loans.
Lloyds Bank reports GI profits up 10%
The insurance division of Lloyds bank has reported a half year profit before tax of £543m – up 16% compared with £469m in the first half of 2010.
Broking focus - Regulation: The new broom
The Financial Conduct Authority will assume responsibility for the regulation of brokers taking over from the Financial Services Authority at the end of 2012. The Institute of Insurance Brokers, the British Insurance Brokers' Association and the London &…
Ombudsman to split PPI and GI following record complaints
The Financial Ombudsman Service will split PPI complaints from other general insurance disputes this September after receiving a record number of calls over the past three months.
Mobile phone insurance: We've got your number
Mobile phone insurance is a high-frequency claims product but has been criticised by the ombudsman and consumer groups. Ralph Savage reviews the sector to discover if this niche is offering value for money.
Payment protection insurance: Crossroads for PPI
Three months ago the High Court rejected the British Bankers' Association's attempts to challenge new payment protection insurance regulations. With the controversial product already battling reputational issues, Tim Pope looks at the future of the PPI…
Santander latest bank to set asside PPI fund with Euros 620m hit
Santander today revealed a net profit of Euro 3.501 bn (down 21%), after setting up an extraordinary fund of Euros 620m in the UK to cover potential claims for payment protection insurance sold in the UK.
British Insurance Awards 2011: Tough talk
In a hard-hitting opening address, Jonathan Swift reflected on a tough year - but urged the industry to celebrate its achievements and look forward to the coming year.
IIB calls for FSCS review after 900% levy increase
The Institute of Insurance Brokers has presented research to the All Party Parliamentary Group on Insurance and Financial Services showing that brokers with an income of £500 000, £1m or £5m have seen their Financial Services Compensation Scheme fees…
Broker focus - Biba/IIB merger: Let's get together
Following the initial flurry of excitement when Biba and the IIB announced they were in merger talks, Chinwe Akomah talks to the market about their hopes and concerns for new a single body.
CMC numbers up 20%
The Institute and Faculty of Actuaries has found the number of claims management companies assisting with injury claims in the UK has risen by 20% in 12 months.
ABI biennial conference: Insurers urged to find ways to interact with customers
Insurers must find ways of addressing their lack of direct contact with personal lines customers if they are to improve loyalty and service.
Post history - Five years ago: Post Office pushes new PPI product
Looking through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from five years ago reveals.
Barclays to settle all PPI claims
Barclays are set to pay out compensation to everyone it sold payment protection insurance to and who made a complaint before 20 April, according to reports on the BBC.
FSA extends PPI complaints deadline
The Financial Services Authority has extended the timeframe for Barclays, Lloyds Banking Group and Royal Bank of Scotland to handle payment protection insurance complaints.
View from the top: Trust is our bedrock
Last month, I attended the funeral of a good friend, Damien Doran, who worked for Perkins Slade, a great broking firm in Birmingham. Damien was the best of our industry. A man you could rely on to do the right thing for his clients, respected by everyone…
PPI broker falls into administration
A payment protection insurance insurance broker, Wilmslow Financial Services, has gone into administration.
Lloyds execs to hand back bonuses
Lloyds Banking Group is taking back part of the bonuses awarded to senior executives as a result of the £3.2bn hit the bank took for mis-selling payment protection insurance.
PPI complaints more than double to 51%
The Financial Ombudsman Service annual review has revealed that 51% of new cases were about the sale of payment protection insurance with the number more than doubling to 104 597 - the highest number ever received in a year about a single financial…
BBA rules out PPI appeal as banks plan for payouts
The British Bankers' Association has abandoned plans to appeal a high court ruling, after four of the major banks have set aside money for to compensate mis-selling payment protection insurance.
HSBC outlines £270m PPI hit in Q1 results
HSBC has set aside a provision of US$440m (£270m) in relation to payment protection insurance sales, the bank has announced.
BBA abandons PPI appeal
The British Bankers' Association will not appeal the High Court judgement on the mis-selling of payment protection insurance.