Who is responsible for PPI Claims?

Jac403

We are currently trying to claim Plevin against Cigna for our PPI. Using the Resolver tool we sent them a message and received the following reply:

"Mortgage protection policies are sold by the Bank, Building Societies, Independent Financial Advisors and Brokers, we administer the policies on their behalf.
Policy reference PRP00723685 was taken out with effect from 16 June 2015 and is a live, as instructed by PMI Partners and covers Accident Sickness and Unemployment.
As we were instructed by PMI Partners to incept the policy we would be unable to comment on the sale of the Policy or the information provided to you at the point of sale. We would therefore refer you back to them to seek further assistance with your enquiry..."

Given we pay Cigna, not this other company PMI Partners, who is it that we should be claiming against, is it PMI Partners as Cigna claim, or is it the people we actually pay?

[Deleted User]

You always complain to whoever sold you the policy.

So in your case, PMI Partners.

You only make a claim to Cigna when looking to claim on the policy.

Are you claiming or complaining?

Jac403

@zx81, thanks. We are trying to reclaim via a Plevin complaint. We have never heard of PMI Partners, all our dealings with this policy and our payments go to Cigna. Seems a bit strange that we pay them and dealt with them in the first place but it's not them that we would have to reclaim from?

antrobus

Jac403 wrote: »

@zx81, thanks. We are trying to reclaim via a Plevin complaint. We have never heard of PMI Partners, all our dealings with this policy and our payments go to Cigna. Seems a bit strange that we pay them and dealt with them in the first place but it's not them that we would have to reclaim from?

That's because Cigna did not sell you the policy. So you can't complain that they mis-sold you the policy. As far a they're concerned, the policy was booked by PMI Partners, which is a trading name of Assured Futures Limited.

I'm guessing here, but PMI looks like an intermediary that packages products on behalf of advisors one of whom probably sold you the policy.

Do you have any recollection as to how you took out the policy?

societys_child

Mortgage protection policies are sold by the Bank, Building Societies, Independent Financial Advisors and Brokers, we administer the policies on their behalf.
Policy reference PRP00723685 was taken out with effect from 16 June 2015

A mortgage protection policy? If arranged by a broker, that would be who you complain to. It's only three and a half years ago and in 2015 there would be plenty of paperwork explaining what the policy was, surely you remember who arranged it?

Nasqueron

16th June 2015 policy taken out, is Plevin even likely to apply to brokers selling the policy?

dunstonh

Why would you be complaining about a MPPI policy taken out in 2015?

MPPI is still sold today. It is one of two types of PPI that are considered "good". Adviser sold policies have low levels of success on complaints. The complaint would also be registered against an individual (not a faceless insurer/bank). So, you generally find the audit trail on adviser sold cases is much better than banks. Hence why so few adviser sold cases succeed on complaint.

[Deleted User]

Nasqueron wrote: »

16th June 2015 policy taken out, is Plevin even likely to apply to brokers selling the policy?

Plevin applies if there was undisclosed commission above the tipping point. This "complaint" is therefore a waste of time.

dunstonh

Moneyineptitude wrote: »

Plevin applies if there was undisclosed commission above the tipping point. This "complaint" is therefore a waste of time.

I missed that bit and its an important point. The commission on adviser sold policies is around 15-25% typically. Way below the 50% tipping point. Adviser policies do not have profitshare (and its profitshare were bank MPPI policies just get over the 50% mark).

Also, if the MPPI was not put in place at the same time as the debt, then Plevin wouldn't apply anyway. it is also likely commission was disclosed if it was placed at the same time as the debt.