MSE News: Claims firms could have to point consumers to free alternatives

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
3 replies 1.5K views
Former_MSE_Megan_FFormer_MSE_Megan_F Former MSE
418 Posts
edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
Claims firms will have to clearly spell out their fees and direct customers to free alternatives BEFORE they sign any contracts, under new plans proposed by the financial regulator...
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'Claims firms could have to point consumers to free alternatives'
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  • NasqueronNasqueron Forumite
    7.7K Posts
    Shutting the stable door after the horse has bolted into a field, eaten the grass, moved to another field, died, been turned into glue and was used on a 6 year old's collage in primary school
    the concept of a United States of Europe is right.” Winston Churchill 1930
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  • dunstonhdunstonh Forumite
    107.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    It is a bit funny to start regulating them at least semi-properly just as the PPI deadline hits. Still we are already seeing dodgy adverts trying to get their claws into other areas.
  • ~Brock~~Brock~ Forumite
    1.7K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    I only hope that despite the polite but arms length references in their recent consultation, the FCA both see and treat these parasities for what they really are.

    The sooner people realise that the money wasted by firms on dealing with nebulous and fraudulent claims - including FOS fees which are happily raked in at South Quay Plaza regardless of merit because they keep the monster fed - comes straight back out of the pockets of normal consumers in general by way of product pricing, the better.
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