What happened?
Payment protection insurance (PPI) is the insurance sold alongside credit cards, loans and other finance agreements to insure payments are made if the borrower is unable to make them due to sickness or unemployment.
WK Associates found significant numbers of policyholders have found that the insurance is useless to them because they would be unable to claim, for example if they are self-employed or retired. Huge numbers of policies were mis-sold for this and other reasons.
White Knight Associates would like to bring to your attention a ruling - now fully accepted by the industry - means that banks must trawl their records for PPI policies which were mis-sold - and to inform policyholders that they may be able to reclaim their premiums.
What now?
Banks now begin the task of identifying customers who they know have been mis-sold PPI.
Financial Services Authority (FSA) rules require them to contact customers where they see systemic problems in the way policies were sold, for example if the marketing literature issued alongside all policies did not comply with FSA guidelines. They will then send letters to these customers to explain how they can reclaim their premiums.
Author White Knight Associates
They will then send letters to these customers to explain how they can reclaim their premiums. PPI Claims
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