Compensation claims – how to do it
- 4TH JUNE 2007
Since the investigation by the Financial Services Authority and the Office of Fair Trading into the payment protection insurance sector, the number of people who are finding they have been mis-sold a policy is forever on the increase.
The Financial Services Authority is urging anyone who has taken out a policy to look over it thoroughly to determine if they would be able to claim on it should they need too, and to claim compensation if they think they have been mis-sold their policy.
However the majority aren’t sure how to go about it when it comes to making a claim. Many no-win, no-fee firms have risen up and offered to make help. However they can take up to 25% of the settlement sum which is finally offered as compensation.
While these firms are having success in getting compensation, consumer champion Simon Burgess from independent specialist payment provider British Insurance, has highlighted that people don’t have to go with a no-win, no-fee firm in order to be successful at claiming compensation.
Simon advises people to take their complaint directly to the Financial Ombudsman Service thus avoiding the middle man. The Ombudsman is in place to negotiate financial matters between the firm and the consumer and will advise you on how to make a claim.
Along with giving this helpful and free advice British Insurance can save you up to 40% on your payment protection premium while offering a quality product, which is bought to safeguard your monthly repayments should you find yourself out of work due to unemployment caused by accident or sickness.
