215million Paid out in PPI Miss-selling Compensation so far This Year

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215 million Paid out in PPI Miss-selling so far This Year [2nd Sep 2011]

Figures released by the Financial Services Authority (FSA) have shown that £215 million in compensation payments have been paid to victims of PPI miss-selling in the first half of this year alone. The cash was paid out by a total of 16 different firms, which have not been named. Almost half of this amount was paid out during May and June alone, while the monthly total earlier in the year amounted to around £30 million each month. The FSA has confirmed that they have received more than 250,000 complaints regarding the miss-selling of PPI and a record 104,000 were received in the last financial year. Three out of four of these complaints have been upheld with an average payout of almost £3,000. Margaret Cole from the FSA has commented that they are committed to ensuring that those affected will receive the appropriate redress. She points out that the whole treatment of the complainants has left a stain on the industry.

The family of a man who died on Christmas day in 2007 have received a six figure payment from the Stoke-on-Trent Primary Care trust. Malcolm Drake developed an abscess following the perforation of his bowel due to undiagnosed Crohns disease. Aged just 23, he had visited a locum doctor and was told his severe pain was caused by a strained muscle. If the Crohns had been diagnosed an emergency surgery would have saved his life. It was found that the locum should have asked for a second opinion as this was the second time the patient had presented with the same symptoms in the space of one week. He had also suffered with a loss of appetite, diarrhoea and sickness and was told it was a bug in the weeks prior to the most recent diagnosis. Mr Drake decided to stay at home while his girlfriend and their baby went to her parents for Christmas lunch. When she returned home he was dead from blood poisoning. The PCT have said that anyone presenting with these symptoms would normally have been seen by a senior doctor and not a locum on her first day working in a hospital.

The price of car insurance premiums in Northern Ireland are much higher than in the rest of the UK and for this reason the Consumer Council has asked the Office of Fair Trading (OFT) to investigate. It was found that premiums were on average 84% higher with the average car insurance quote coming in at £920. Consumers in Northern Ireland already face higher petrol and diesel costs and are more likely to use their car. The consumer Council has asked that the OFT investigate if the costs of claims, compensation, legal fees and claims management referrals are unfairly impacting on the premium prices in NI. The Association of British Insurers has already admitted that the level of compensation payments for personal injury being paid in NI is higher than elsewhere. In fact a simple whiplash injury could lead to an award for £8,000 compared to £2,000 in England.

BT has paid £190 in compensation to Robert Hammond who was left without broadband and landline telephone access for more than a month. The pensioner was hoping to get £1,000 in compensation as he uses his computer for several hours a day writing several novels. He claimed £5 for each working hour he was without internet access and £10 per day for the loss of his home phone. The district court judge who dealt with the case sympathised with Mr Hammond but found that it had not been shown that the writer had missed out of £5 per hour as he was retired and writing his books was essentially a hobby. Hammond has said that BT failed to reply to his correspondence and it wasn't until the case reached the courts this his case was taken seriously.

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