FSA Make Pre-emptive Strike Against Modified PPI Policies

Nov. 24, 2010 - PRLog -- The Financial Services Authority (FSA) insist they are eager to “intervene early” with products closely resembling Payment Protection Insurance (PPI) policies. Recognising the urgency of protecting policyholders, the regulatory body are determined to keep a close watch on any up and coming policies that are simply a modification of PPI.

Guidance by the FSA appears to be part of a pre-emptive plan aimed at strengthening the regime and reducing the chance of consumer loss within the insurance industry. December will see the launch of the FSA’s Complaints Handling Roadshow to give complaints handling departments, banks and lenders a better understanding of the implemented changes and a guide to good practice. Additionally, reports suggest that the FSA are demanding extensive financial information from banks, including the breakdown of staff pay and bonuses in order to fully assess the mis-selling of PPI policies.

Whilst PPI Return http://www.ppireturn.co.uk welcome these precautionary moves, this pre-emptive strike goes little way to encouraging the thousands yet to make their valuable PPI claims. As the Competition Commission’s (CC) point-of-sale ban comes into force and sale practices of insurance policies change, there is concern that some customers may believe they can no longer make a PPI claim. PPI Return is reassuring customers that if they believe they may have been the victim of a mis-sold policy in the past, they are still entitled to make a PPI claim.

PPI Return http://www.ppireturn.co.uk is adept at quickly and accurately ascertaining whether or not a customer has a potential claim to make. The Company is keen to help consumers avoid the perils of escalating the complaint to the Financial Ombudsmen Services (FOS); where there is currently a backlog of complaints and processing is slow. PPI Return is well aware that some banks are refusing to co-operate with individuals making a claim. The Company’s extensive knowledge of the industry ensures all paperwork is dealt with sufficiently with minimum hassle for the customer.


ABOUT PPI RETURN – PPI CLAIM SPECIALISTS

PPI Return http://www.ppireturn.co.uk is one of the UK’s leading PPI claims law firms with a wealth of experience and highly qualified legal advisors.

PPI Return is dedicated exclusively to helping clients regain mis-sold Payment Protection Insurance (PPI) payments. There are many thousands of people in the UK who were either mis-sold PPI or not informed of how the PPI worked when taking out loans. PPI Return works to correct this wrong doing and works on a highly competitive fee basis. PPI Return provides an online ’60 Second Test’ where you can quickly assess if you are entitled to make a claim for mis-sold PPI in addition to Web Chat with PPI Claim specialists.

CONTACT

PPI Return
Mersey Chambers
5 Old Churchyard
Liverpool
L2 8GW
Tel:  0800 877 8888
info@ppireturn.co.uk  
http://www.ppireturn.co.uk

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PPI Return is one of the UK’s leading PPI claims law firms with a wealth of experience and highly qualified legal advisors.