Compensation after PPI refund?

Purplepot

Does anyone know or have experience of a claimant getting compensation for denied claims on a PPI policy?

A friend who recently claimed and got her missold PPI premiums refund was discussing this today , I asked if she was awarded compensation as well as refunds, looking amazed at this statement, she said "you cant have your cake and eat it"

she had been laid off in her last job for almost a year , and thought she was covered by her PPI policy , didnt make a claim because of the terms of her policy, so she never made a claim,

i think that if a company took her premium , then they're liable for any claims that arise
Am I wrong to think this?
Purplepot

dunstonh

Does anyone know or have experience of a claimant getting compensation for denied claims on a PPI policy?

Financial services dont really work on the basis of compensation. It is redress. So, if you made a claim and were not paid out and it was later found you had a valid claim and it should not have been rejected then you would expect redress plus expenses and interest. Not some compensation amount on top.

i think that if a company took her premium , then they're liable for any claims that arise

They are. However, if you complain about a mis-sold policy then this voids the policy as if it never existed.

she had been laid off in her last job for almost a year , and thought she was covered by her PPI policy , didnt make a claim because of the terms of her policy, so she never made a claim,

That doesnt make sense. You say she had a claimable event but didnt put a claim in. Why not?