Belmont Thornton Logo
Claim Back Loan Insurance

Payment Protection Insurance Providers

Payment protection insurance providers are certainly part of the problem when it comes to mis sold PPI but they appear to be a relatively small portion of it. The reason for this is that mis-sold PPI is all about what happened, and what the customer was told, at the point of sale. In most cases Payment Protection Insurance is sold by a broker or a lender, but is underwritten by a payment protection insurance provider. The company selling the insurance earns a commission, but they also carry the responsibility of ensuring the policy is sold to suitable customers and that all the terms are clearly explained.

Choices in Payment Protection Insurance Providers

One of the ways in which lenders are misselling PPI cover is to push certain payment protection insurance providers on their customers. When a loan is originated and loan insurance is sold, lenders are quite often found to be saying that the borrower needs to purchase cover from the insurance company they work with. This is not true. Just as it is completely wrong to tell consumers they must have payment protection to qualify for the loan, it is also against mis-selling to tell them which companies they can deal with and which companies they can't use. This is one of the reasons reclaiming PPI is so huge. Simply put, many borrowers Were seriously misled! The truth of the matter is that consumers can choose any insurance provider they would like and there is nothing the lender can do about it.

Are Payment Protection Insurance Providers Responsible for Mis Sold PPI?

To some extent, payment protection insurance providers are responsible for misselling PPI but not to the extent at which lenders are responsible. It is the lender who takes an application from a consumer when he or she is trying to take out a loan and of course it is the lender who actually sells the insurance product. Payment protection insurance providers actually have no contact with the consumer unless that consumer is trying to make a claim against the cover. It is often at this point where consumers find that they have been mis-sold PPI cover and find that they need to make a claim to recover bank charges. Therefore, the role of the insurance provider is minimal. However, insurance provider could double check any policies to see whether or not the borrower actually qualified for this type of cover but this is just a check and balance maneuver. In the end it was the lender who mis-sold payment protection insurance.

If you feel that you have been mis-sold payment protection insurance and would like to file a claim for a refund, call The PPI Claims Company. We are registered with the Ministry of Justice and have already successfully filed thousands of PPI claims for consumers who were mis-sold PPI cover. To speak with a claims team member today call 0207 471 2000

Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Why Choose Us?

  • TickAbsolutely No Upfront Costs. No Win No Fee*
  • TickSpecialist Claims Team Always On Hand To Answer Your Questions
  • TickQuick, Easy And Simple Process
  • TickU.K. Based Call Center
  • TickGuaranteed To Start Your Claim In 24 Hours

Loan claim: Building societies warn of house price bubble

The Building Societies Association (BSA) is the latest to warn about the potential house price bubble that could arise f...

Bank claim: Lloyds raised concerns on Co-op finances

Lloyds Banking Group was aware that the financial position of the Co-Operative bank was unstable, said Lloyds chief exec...

Loan claim: first time buyers locked out for a decade

First time buyers will have to save up their deposit on a house for more than ten years, according to research from the ...

Bank charges: Commission tackles issue of RBS

The weak position of the Royal Bank of Scotland (RBS) is damaging to the UK economy, according to the Parliamentary Comm...

Bank charges: Report says customers and taxpayers were failed

Customers and taxpayers have been failed by the financial sector, according to the final report from the Parliamentary C...

Belmont Thornton Limited is regulated by the Financial Conduct Authority in respect of regulated claims management activities; FRN:838450

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide