Company will manage PPI claims for an anonymous financial institution

Claims management firm Resources in Insurance Group (RiIG) has won a contract to manage payment protection insurance (PPI) claims for a “leading financial institution”.

RiIG did not name the client.

The contract will be effective for the second half of 2012. RiIG said Initial indications show that the contract will represent in excess of £750,000 in turnover during this period.

The company added that similar contracts could follow in 2013 and that it is in early-stage discussions with a second leading bank with the view to providing a similar service for PPI claims.

RiIG executive chairman John French said: “We are of course delighted to have secured this contract. It highlights not only our skills to operate in the traditional insurance claims sector, but also our ability to transfer our knowledge and experience to other aspects of the financial services market.”

RiIG chief executive Gordon Vater added: “This win adds to the success we have recently achieved. The pipeline of new business prospects remains strong and we look forward to alerting the market of further contract wins in due course.”