Protection

Happy new year, and some potentially good news on PMI premiums.

Clients will be entitled to damages if insurers fail to pay claims promptly, according to the latest proposal by the Law Commission.

Redress paid to customers complaining about the sale of payment protection insurance (PPI) has hit £1bn in 2011, following the release of the latest monthly figures from the FSA.

Insurers handed over £2.4bn in insurance premium tax in the year 2010/11, a rise of more than 6% on the previous year (£2.253bn), government figures reveal.

Bupa has confirmed it is to de-list a further 25 BMI hospitals from 1 January after the two parties failed to agree contract terms for treating Bupa patients.

Simplyhealth has bought dental cash plan provider Denplan from Axa for £115m.

Bupa has introduced its first consumer dental insurance product.

The Financial Services Authority (FSA) has fined Combined Insurance Company of America (CICA) £2.8m because its poor management of staff put customers at risk of being treated unfairly.

General Practitioners (GPs) who have taken over budgets from Primary Care trusts (PCTs) under NHS reforms are sliding millions into the red.

Groupama has suffered a ratings downgrade at the hands of Standard & Poor's despite the France-based insurer announcing a range of key strategic actions designed to halt the recent slide.