Tag: payment protection insurance

Barclays sets aside funds to deal with insurance news controversy

S.Vagus
life insurance news Barclays Bank

Barclays continually caught in scandal Major British bank Barclays has announced that it will be setting aside approximately $1.1 billion in funds to mitigate the financial impact of its inappropriate sale of insurance to consumers. Earlier this year, Barclays was steeped in a rate-rigging scandal that damaged the company’s reputation. In the wake of this insurance news scandal, the bank purchased nearly $1.7 billion worth of payment protection insurance for its employees. Now, the company is setting aside funds in case it receives more claims concerning inappropriate sales of insurance…

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Payment protection insurance is the rise, says recent research

Insurance News Profits

Study shows that customers have filed far more inquiries during the last three months. The results of a study regarding the use of payment protection insurance have now been released and are showing that there has been a significant increase in inquiries from May through the end of July 2012. The report claimed that this is a sign of an increasing market that looks to continue in that direction. This study’s report of the increase in inquiries and business in the payment protection insurance sector only further supports other research…

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Payment protection insurance sparks disputes in the United Kingdom

Nordstrom
Homeowners insurance New Jersey

UK PPI coverage the subject of controversy The United Kingdom’s Financial Ombudsman Service, a mediation organization that works to settle disputes between consumers and UK businesses, has released information concerning the population’s stance on payment protection insurance (PPI). PPI is a type of insurance that is meant to protect loans and ensure repayment. This type of insurance is quite popular in the UK, but not amongst consumers. It is being reported that UK consumers are complaining about this type of insurance coverage, and the companies providing the coverage, in droves. Claims that…

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