FSCS data reveals fee structure
The average payment protection insurance (PPI) claimant paid claims management companies (CMCs) £960 of their claim in fees, according to the Financial Services Compensation Scheme.
Last year, CMCs were paid £7.4m in compensation, and have received £22m since the mis-selling scandal broke out, according to The Independent.
About three-fifths of PPI claims in 2012 came from CMCs, according to the research.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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