MSE News: Card protection firm CPP must pay £14.5m to mis-selling victims

Mike2461

I have just received £105.49 as a full refund on the 3 year policy that I took out in May 2010. On 22 January 2013 I contacted CPP via thier customer contact page on their website. I mentioned the FSA ruling that customers must have their premiums refunded and asked when I would get mine back. Initially I got an email reply saying that I would be getting a letter from them. They also asked me to confirm my contact details. I replied saying that their reply was the same stock reply that they were issuing back in November 2012. I told them that it was time that they now started taking action. I told them that it was clear that I had been mis-sold my policy and expected an early resolution to the matter. A few days later I received a telephone call from CPP. The man stated that he had played back the recording of the telephone conversation from May 2010 and disputed the policy was mis-sold. I stuck to my guns stating that I had not instigated the sale. I had telephoned a number to activate my credit card and was put through to a sales person. The man eventually agreed that I was due to a full refund of my £89.99 plus 8% interest. However, he stressed it was because of a 'Product Flaw' not mis-selling. I'm just glad the cheque is now in my bank account.

Reillymac

cheekychipmunk wrote: »

Well, I never got the letter from CPP as promised, so sent one to them. SInce then I've been lead a merry dance. CPP said that as I had got my plan via the Egg card, they would pass my details onto BArclaycard. Two weeks later my husband (god knows why????) got a letter from Barclaycard about MY claim, saying that as my Egg card had not been transferred to them, I need to contact Egg directly.

I'll try that, but don't hold out much hope. I read an article saying that as the claims can only go back to 2005, anyone who took out a policy with a card provider, but then renewed via CPP year on year including 2005 - the claim should be through CPP as it would be seen as a new policy as of 2005. I can't be bothered chasing all these companies up in a continual loop, so think I'll just go straight to the ombudsman with the information off the FSA website....

I've waited patiently for the letter that was supposed to be sent out by CPP and as yet nothing has been received which doesn't create a lot of confidence in the company. I agree with cheekychipmunk that renewal through CPP should make the claims the responsibility of CPP rather than them trying to pass the buck to other companies such as EGG. I'm going to write directly to CPP and see what happens when (if) I get a reply.

vckidd

I think you will find that Paul Stobart took over after the FSA started investigating.

d18set

Hi All

Got a cheque for £229 out of the blue from MBNA yesterday. I'd encourage you all to keep perserving if you have not had a refund for mis-sold CPP insurance yet.

:j

totally_bonkers

Hi all,
I went thru the same stuff as previous posters when I first got involved with CPP. Can anyone tell me if Martin or any of his lovely team have created a Pro forma letter for us to use when claiming? He does some crackers!!! :T
Hope you are all successful.

d18set

Don't think there is a proforma letter. I literately sent in an informal e-mail asking for a refund and then after a while got a cheque in the post. I think you just need to say that following the report of mid-selling you wish to claim a refund of your premiums.

In my experience they have had their knuckles rapped so severely that they recognise they ultimately have little choice but to pay out.

Good luck!

totally_bonkers

Hi d18set,

Don't suppose you have that email address;)

Thanks
Totally :think:

d18set

Just do an Internet search for "CPP contactl" and it will take you to a page with an online form to complete to email CPP.

Cheers

totally_bonkers

Thanks, d18set. Will let everyone know how I get on.:)

sovereign_candy

HI. I've been paying 'Identity Protection' and 'Card Protection by direct debit and just had my renewal reminder! Does this mean CPP are still selling these products, or that my policies are not the ones in question? I just don't know if I've been mis-sold.