Hundreds of rogue claim firms closed - Press Release

[Kati]

Almost 600 of the claims companies responsible for bombarding people with nuisance calls and texts have left the industry.

The latest figures show that more robust enforcement against claims management companies and stricter rules raising standards are having a dramatic effect. The number of firms who are regulated to handle compensation claims, for example for personal injuries or mis-sold financial products, including PPI, has fallen from 2,693 in April 2013 to 2,097 in March 2014.

https://www.gov.uk/government/news/h...m-firms-closed

[wales01man]

Re: Hundreds of rogue claim firms closed - Press Release

It was easy money Where theres cash theres rogues

[Kati]

Re: Hundreds of rogue claim firms closed - Press Release

Agreed!! there's sill more to do tho'

[righty]

Re: Hundreds of rogue claim firms closed - Press Release

More spin
Justice Minister, Lord Faulks said:
"We have made major reforms to turn the tide on compensation culture," (there isn't one so how have they turned the tide?)"drive down insurance premiums and help honest people". Another myth propagated by this government AND the insurance industry. In fact the insurance industry is finding new novel ways to increase the consumer costs.

E.g. Here's just one. If you phone just to check your policy access they'll increase your premium.

[Kati]

Re: Hundreds of rogue claim firms closed - Press Release

More spin
Justice Minister, Lord Faulks said:
We have made major reforms to turn the tide on compensation culture, (there isn't one so how have they turned the tide?) drive down insurance premiums and help honest people. Another myth propagated by this government AND the insurance industry. In fact the insurance industry are finding new novel ways to increase the consumers costs, eg If you phone to check your policy access they'll increase your premium etc etc

I won't argue with you righty, I've no opinion on if there is or isn't a 'compensation culture' - I'm just glad that cold-calling firms are being stopped :tinysmile_grin_t:

[righty]

Re: Hundreds of rogue claim firms closed - Press Release

I've got no problem with those CMC's who don't abide by the rules being closed down. Far from it as hopefully only those who do a good job will remain in business AND don't assume that the number the minister quotes is down to him. Many CMC's, including some good ones, have seen the writing on the wall and have packed up voluntarily. If you want to change things demand that they bring back legal aid for such claims

[righty]

Re: Hundreds of rogue claim firms closed - Press Release

AND if you close them all down where will victims be able to go to seek help where it doesn't cost a fortune????

[Kati]

Re: Hundreds of rogue claim firms closed - Press Release

AND if you close them all down where will victims be able to go to seek help where it doesn't cost a fortune????

it's not the firms I have a problem with - it's the cold calling ... I've had countless phonecalls and texts from companies telling me I've had an accident and can claim compensation then when questioned as to where they got my number the call is ended. Bringing back legal aid would be a good thing for those who need it, and I see nothing wrong with people seeking redress when accidents happen that are not their fault (if they need to). BUT it's companies like these (not all of them admittedly, but a fair few) that encourage people to claim for things which they have no right to claim for :tinysmile_hmm_t2:

[EXC]

Re: Hundreds of rogue claim firms closed - Press Release

Hundreds of rogue claim firms closed

Really? This is the standard misleading headline that gives the impression that MOJ 'closed' hundreds of firms. But the report itself states that only 198 firms had their authorization cancelled. That's not hundreds.

What the report omits to say (as it always does) is how many cancellations were actually due to the non payment of the licence fee (and not because of enforcement action due to rule breeches) which I was reliably informed by MOJ informally is the number one reason for licence cancellations.

[righty]

Re: Hundreds of rogue claim firms closed - Press Release

Quite! they have tried to pass off these closures as proof they are doing their job when in fact many if not most are because these CMC's have decided to quit a hostile market thanks to politicians prompted AND backed by the insurance industry