Underwriter success PPI

[marshallka]

Re: Underwriter success PPI

Legal definition of AGENT

agent n. a person who is authorized to act for another (the agent's principal) through employment, by contract or apparent authority. The importance is that the agent can bind the principal by contract or create liability if he/she causes injury while in the scope of the agency. Who is in agent and what is his/her authority or often difficult and crucial factual issues.

Surely even if a broker did sell the insurance and loan to a consumer and the broker is bust IF the insurer is contracted to the lender than that constitutes a CHAIN of agencies as ALL made money.

[marshallka]

Re: Underwriter success PPI

Perhaps this explains it more

http://www.out-law.com/en/topics/com...mercial-agent/

Now again, why are FOS not seeing this relationship thing and chain of agencies?

A broker (even if self employed) takes money selling loans for a lender. That to me constitutes employment. The lender and the insurer have a contract written between them. Surely that is a chain of agencies.

[L'pool64]

Re: Underwriter success PPI

Hi Marshallka,

you can see now where I have been coming from......it seems so very simple and straightforward. Any time there is money involved, there is a relationship!

your broker may not have been paid anything on the ppi but the contract may have given him a higher payout on a loan sold with ppi. They would have had some incentive to sell it.

can you not proceed with your case taking the forward positive stance....something like e g as a commercial relationship existed that was advantageous to all parties involved in the sales process?.........

put it the onus back on them to disprove what you have said?

i have no problems if you think this advice is rubbish!!!!

Best Regards,

:beagle:

[marshallka]

Re: Underwriter success PPI

Hi L'pool.

I understand what you are saying. Often though its easier for the lender to "make out" the PPI was sold by an unregulated broker because the lenders would have been under jurisdiction of FOS but the broker not.

People then give up knowing they have no chance with the lender as FOS just listen to the lender that it was sold by a broker without really listening at all to the arguments and elements of proof of the consumer. The brokers even take responsibility for the sale KNOWING they cannot be touched. Its all so set up.

FOS must KNOW what is going on too I would think but they do nothing. They actually side with unscrupulous lenders/brokers and insurers.


Surely on the balance of probabilities with the firms being found out they missold on MOST policies, surely the consumer would have the upper hand in who is telling the truth. Unless of course FOS will only rule on vanilla cases against firms and if there is a burden of proof issue, a consumers word is not enough to sway in the other direction.

VERY biased I would say.

[Kdee]

Re: Underwriter success PPI

Hi Folks
I now have an update on this for you. Di30 kindly sent me her letter, which I tweaked to our own personal situation. I sent this to Cardif Pinnacle who flatly refused any liability, as did Aviva, stating as they were not there at the sale they were not responsible. Both stated this was their final decision on the matter. I then sent all the correspondence to the FOS and asked them to look at it for me, this was about 3-4 weeks ago.

Two weeks ago I received a letter from Aviva, stating the FOS has asked them to look at my claim again as it appeared what we originally thought was a joint PPI policy we had taken out at the time, was only a single policy for one of us and they had added the second policy holder to the loan later without our knowledge and charged again. Aviva have now offered full payment of the PPI on the 'second policy' plus interest, but refuse to pay out on the first policy as they were not there at the sale. Eitherway, this is a great outcome for us as it was pre2005 and reading on the net it was a very long shot that we would get any justice on this.
Hope this helps others.

[dogtired]

Re: Underwriter success PPI

Well done !:cheer2:

[skintmember]

Re: Underwriter success PPI

Just wanted to updateI'm so confused

We have recieved all bank statements which show we took out loan 1
21st december 2004 l£10.000over 48 months
payment 1 1st February 2005 (£314.87 10 payments (PPI full uphold)

We refinanced on 23rd November 2005 £15000.00 60 months
no PPI added the redemption figure Given was £9464.65

we received £5537.35 on the 25th November 2005
the First payment of £335.12 taken was 1st January 2006
We made 19 payments

On the 10th May 2007
He took out a personal loan of £2000 +PPI added £423.65
(PPI full uphold) (no payments made no signed agreement)
Loan 4
5th June 2007 less than a month later we took out a loan of £15000.00
Over 62 months We recieved £1068.99 the schedule of payments states
contra charges £11931.01 + £2000.00 for the previous months loan
We made 68 payments of £334.09
Which means we have paid over in charges £2005.14
The redress figure offered is £2416.50
I have tried to used the ppi calculater any tips on how to use it.
Months of getting fobbed off how do I know the sums add up.
I hope this is clearer than my last posts.

[Beasy]

Re: Underwriter success PPI

Just to give some on you a little hope.
I have been trying to claim PPI from FORD for 2 vehicles purchased pre 2005. As Ford were not regulated, and after a couple of years of hitting brick walls, I went to the underwriter, Norwich Union ( Aviva) and claimed from them. I thought this would be a very long haul, as this is what I have read on the forums, but no, 3 weeks ( yes 3 weeks) later I have been advised that one of my complaints has been upheld, and have received a cheque. I am contesting the decision for the other complaint that they refused, as the details we identical, ( I purchased 2 vehicles within 2 months from the same place) so if they uphold one, they must uphold the other. Perhaps they thought I would be happy with the cheque they sent. I am confident I will have the other one upheld too. I did not blame them but they do have a responsibility as the underwriter. My letter was factual and direct. It obviously worked.
Don't give up hope.
Bea

[dani2015]

Re: Underwriter success PPI

Hi To Dizzy Di - Di30

I wonder if you can help me. I noticed you have been very kind helping others with their queries regarding PPI.

I am unsure how to go about this but I had cards with department stores. I have been paying these of ever since as I have an agreement to stick to the payments til they are paid off although I do not have such accounts with them anymore. I took them out about 20yrs ago when I was young and vaguely remember PPI insurance for the agreement but I can’t remember if I ticked the box. I would have been unemployed at the time of taking the first ones out, I could have started work when I took out the last one In the department store. Over the years I was not able to keep up with payments even with a job.

I know the account numbers and as they were from GE Capital originally, should I go straight to Genworth to put in my claim should have I had paid PPI? How can I find out if I did pay any PPI? I generally would not have been bothered about insurance on store cards for anything so I can’t see why I would have ticked the box. Even if I did tick the box would they close my claim?

If I was due to receive money from them, would they use it to reduce the debt I have had over the years? I would actually prefer that.

If you can help I would be very grateful. I have been meaning to sort this out years ago but was not sure how to start but I have been reading the pages on this website today and this has prompted me to get the ball rolling.

I may have old 20 year old store card statements around somewhere.

Please send me your form/template/letter etc.

Thanks for your assistance. Dani

[Roza2015]

Re: Underwriter success PPI

I wondered if somebody could send me a copy of template letter for pursuing an underwriter in a PPI claim and maybe for CEO ? Many thanks

[baxter2011]

Re: Underwriter success PPI

Hi Di30, aka Dizzy di

Are you able to send me a copy of the worded letter you sent to your underwriters. As my wife n I took out a loan with SPPL (Southern Pacific Personal Loans) in 2004, this was arranged at the time by Click Finance Ltd (ceased trading) the loan was under written by a insurance underwriter Lloyd's Insurance through (MMS) Marketing & Management Services Ltd who where acting on behalf of SPPL.

I have been around the houses on this, having written to both Lloyd's of London, and MMS who have both stated that PPI on the loan was sold b y the broker and not them so they wont accept liability. I did refer the matter to the FSCS and FOS who have both sited that as the sale took place prior to January 2005 I have no recourse. I don't accept anything they say and would appreciate any assistance you may be able to provide

[enaid]

Re: Underwriter success PPI

@dogtired going through this thread I don't think Di put a copy of her letter on here, seems she emailed it to people. Any chance you can give an outline of the letter as I did you used it at some stage, thanks

[dogtired]

Re: Underwriter success PPI

@enid
Will try and find it, If I do so I will copy and post it up here .

[enaid]

Re: Underwriter success PPI

Cheers don't forget to take any personal details off xx

[dogtired]

Re: Underwriter success PPI

Ok .
From memory think it was initially by phone and e mail and during a recent update the e mails have gone missing.
Aviva did reject and I went to FOS the refund I got was out of the blue.
Have attached the letter from Aviva.
Only the first page seems to have worked will have to go back and try again!
aviva.pdf

No cannot find it very annoying!
Think the original letter was similar to a CCA request but enclosing evidence, if you had it. Only got back from an initial PPI Welcome "rewrote " it put PPI on that but Aviva refused to pay on that. Tired to attach the letter to FOS but it tells me is an invalid file:tinysmile_cry_t: