Successful claim on insurance

marty21156

Hi All.

I have had an offer from my bank, Halifax, to settle my PPI claim. I made a successful claim against the PPI because I was unemployed/sick for a period of time.

In calculating my compensation they have deducted the monies paid on the claim from my compensation. This amounts to over £5,000.00.

Because the loan went into arrears and was passed to a debt recovery company Halifax cancelled the PPI.

Consider this, if I was to make a claim on my car insurance for repairs due to an accident and then cancelled the policy, would the insurance company chase after me to reimburse them for the money paid out under the claim? This is what I think Halifax is doing to me now. Do you think it unfair they are asking for the money back, or am I looking at this the wrong way?


Thanks for any help.

[Deleted User]

marty21156 wrote: »

Consider this, if I was to make a claim on my car insurance for repairs due to an accident and then cancelled the policy, would the insurance company chase after me to reimburse them for the money paid out under the claim?

If you were looking for all your previous car insurance premiums to be repaid to you (ie to put you in the position of never actually having had it) then yes, I would expect them to chase you for the money paid out under the claim.

-taff

You're looking at it the wrong way.

e.g
you gave them 3000
they gave you 5000

if they gave you another 3000 pounds, they'd have given you 8000, you'd have given them nothing.
by keeping the 3000 they are still 2000 out.

dunstonh

Consider this, if I was to make a claim on my car insurance for repairs due to an accident and then cancelled the policy, would the insurance company chase after me to reimburse them for the money paid out under the claim?

Not even close to being comparable as the claim on car insurance would have happened whilst you are covered. If you claim in the policy year, the insurer keeps the premium paid.

With PPI, your complaint is that you wanted them to void the policy as if it never existed.

This is what I think Halifax is doing to me now. Do you think it unfair they are asking for the money back, or am I looking at this the wrong way?

If things were looked at fairly, you should refund what they paid out under the claim and they should refund what you paid. That is after all what you wanted when you made the complaint.

However, what you or I think is fair doesnt matter. The redress method is defined by the regulator and, quite correctly, they state the claims paid out should be deducted from any redress.

marty21156

Hi all.

Thanks for your replies, the information was invaluable.