Payment protection insurance (PPI)
CMS Cameron McKenna: FSA “punishing” PPI market
Law firm CMS Cameron McKenna has responded angrily to the FSA’s policy announcement on the PPI market.
FSA outlines tough stance on PPI market
The Financial Services Authority has published a policy statement confirming a package of measures to protect consumers in the Payment Protection Insurance market.
Paymentshield launches product
A new income insurance product aimed at helping customers to control their financial commitments has been launched by Paymentshield.
Lloyds Bank PPI sales fall 23% in H1 2010 results
Lloyds Banking Group has reported that profit before tax and fair value unwind from its general insurance increased by 5 per cent to £195m in the first half of 2010, "due primarily to lower claims and reduced operating expenses".
Competition Commission launches PPI consultation
The Competition Commission has unveiled a consultation paper on the way retail payment protection insurance is sold.
Lloyds pulls credit linked PPI products
Lloyds Banking Group has announced it has ceased selling credit linked payment protection insurance (PPI), effective from 23 July.
FSCS says two thirds of £204m payouts are for PPI
In its annual report and accounts for 2009/10, published today (22 July), the Financial Services Compensation Scheme reports that it has paid more than £204m in compensation to over 21 000 claimants.
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.