Simon English: Bogus PPI claims are making things worse
Friday 27 July 2012
Outlook Bleep. That's a text from your friendly neighbourhood ambulance chaser. It thinks you could be owed money for a personal protection insurance product you bought from your bank. Actually, you might not have bought one at all, but why not chance your arm? S'not a crime, is it?
There's no real reason to feel sorry for Lloyds and the others caught up in all of this. they did bring it on themselves and the punishment may even persuade them to behave better in the future.
But there's no question that some businesses being whacked by the PPI scandal are unfairly on the end of claims from punters and lawyers trying it on.
Chris Pilling, of Yorkshire Building Society, says the claims management firms are "a disgrace" that are hurting businesses and "assaulting" the public.
Although the Yorkshire has a minimal amount of exposure to the PPI mis-selling crisis, he says the society is still being deluged with claims it is obliged to process. The Yorkshire, like all banks or building societies, has to pay the Ombudsman £850 to look at each claim it receives even if it is sure no compensation is due.
Plainly, better regulation of the claims industry is needed.
- 4 Women think Irish men are the sexiest, survey finds
- 5 Florida couple forced to register as sex offenders for having sex on public beach
Italian police 'reveal' what Jesus looked like as a young boy
Who should I vote for in the general election? Take The Independent's interactive quiz to find out which party is the right choice for you
Florida couple forced to register as sex offenders for having sex on public beach
Mysterious 'X-Files' sounds heard miles above the Earth
Met Gala 2015: Jason Derulo falling over in epic fashion, the event's most talked about moment, wasn't what it seemed
In defence of liberal democracy
General Election 2015: Post-election 'shambles' looms as 70 per cent of voters say SNP 'should not be able to veto UK government policies'
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
General election live: SNP suspends two members for disrupting Labour rally
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£60000 - £70000 per annum + benefits : Ashdown Group: A highly successful, glo...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£27 - 35k + Bonus + Benefits: Guru Careers: A Management Accountant is needed ...
£40-50k + Benefits.: Guru Careers: A Project Manager / Business Analyst is nee...