Payment protection insurance (PPI)
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.
Barclays CEO in PPI apology as bank sets asside £1bn for claims
Barclays has decided that it will not participate in any application for permission to appeal against the High Court judgment of 20 April 2011, which dismissed the action brought by the British Bankers' Association regarding the assessment and redress of…
Lloyds Banking Group reports huge £3.2bn Q1 losses after PPI provision
Part-nationalised Lloyds Banking Group has recorded a statutory loss after tax of £3.47bn for Q1 2011 (Q1 2010: £721m), after the bank made provisions of £3.2bn for payment protection insurance payout costs.
Firms face ruin after court ruling
The insurance industry has been warned some firms could face ruin after a legal challenge to the Financial Services Authority's measures to deal with payment protection insurance complaints was rejected.
High Court backs FSA in PPI rulling
A High Court judgment has upheld the Financial Services Authority rules on how complaints into payment protection insurance are handled.
Postbox: PPI rule change — a long time coming
News that the Competition Commission has published its final order detailing measures that will reduce the risk of consumers being mis-sold payment protection insurance, and create opportunities for other providers, is to be welcomed. But it's…
Interview - Jonathan Evans MP: APPG - priorities, progress and provocations
Chairman of the All Party Parliamentary Group on Insurance & Financial Services Jonathan Evans talks to Mairi MacDonald about the group's priorities, progress and provocations.
Co-op to increase aggregator usage
Co-operative Insurance has set its sights on growing its household book by widening its use of aggregators as a means of distribution.
ABI disappointed with FOS decision
The Association of British Insurers has said it is “disappointed” at the Financial Ombudsman Service’s decision to increase its levy on firms.
Post history - 15 years ago: Post Office strikes Sun Alliance deal
Looking through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 15 years ago reveals.
FSA funding requirement rises 10% for 2011/12
The Financial Services Authority has set out its business plan detailing its priorities for 2011/12, which reveal a 10.1% increase in funding from £454.7m to £500.5m.
Biba stands firm on call for FSCS funding changes
The British Insurance Brokers' Association has reiterated its call for a change to the Financial Services Compensation Scheme funding rules before April 2012, after an MP warned the final figure for payment protection insurance mis-selling compensation…