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PPI mis-selling left the borrower with a policy of no use to them if they needed to make a claim. Reclaiming PPI payments and statutory interest charges on these payments is possible either by the policyholder or via a lawyer or claims management company. The first ever PPI case was in 1992–93 (Bristol, 93/10771).
EMCAS was a Financial Claims Management Company based in Torquay, United Kingdom, with offices in Exeter, Paignton and Taunton.Established in 2003, EMCAS was one of the largest Claims Management Companies in the UK, employing over 350 staff [1] to help consumers claim back money lost from mis-sold financial products including savings and investments, endowment mortgages, pensions and payment ...
"95% of all claims were upheld by the Financial Ombudsman Service (FOS), which means that 95% of PPI policies sold by banks and lenders in the UK were mis-sold." This statement is completely wrong. The Financial Ombudsman Service is a last resort for complainants who have already exhausted the complaints procedure at the provider in question.
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The banking giant will pay an average of £750 to up to 1,306 customers who were affected by the breach between 2014 and 2017.
Blue Cross Blue Shield payments to about 6 million people are set to go out more than two years after the health insurer reached a $2.67 billion settlement with subscribers.
The collapse of claims management company the Accident Group in 2003 increased disquiet with the system. Such companies used aggressive sales techniques and exaggerated claims, profiting from exorbitant commissions on after the event insurance policies. It was estimated that there were about 1,000 such companies in the UK in 2003. [2]
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