Many ordinary people take out needless insurance consequent to their mis-sold payment protection insurance cover which they have been sold by devious salesmen and this is just protection cover or PPI which is unnecessary for the reason that they are already covered by the product or service itself or they are covered by existing consumer laws or other consumer convention. Another possibility is that it would not be likely to attain the scale of loss included in the protection insurance or PPI.
The financial regulator has been busy heavily fining PPI firms left, right, and centre for not behaving towards consumers justly, plus the Competition Commission has examined this sector and made some demands on lenders, including banning sales within seven days of selling credit cards or financial agreement and completely outlawing single premium polices.
The outcome of any action brought in accordance with consumers' mis-sold payment protection insurance cover is binding and sets a precedent for consumer legislation in the future. What is important is that the consumer is fully compensated for all the money which has been wasted. Case law in England and Wales is by now justly secured in defiance of the swindlers who insist on this bad practice.
When considering the action you should take about your mis-sold payment protection insurance cover you must also consider the loss of your time as well as the loss of your money. Any subsequent court action should arrive at a resolution which satisfies the needs of both. Only by succeeding in both of these can you be completely satisfied.