Consumers 'missing out' on £18.3bn PPI compensation

Laura Miller
clock •

Consumers are missing out on £18.3bn worth of compensation for the mis-selling of payment protection insurance (PPI) policies, according to research by claims management firm EMCAS.

The final amount due for financial mis-selling would be even more if consumers reclaimed what is owed for mis-sold endowment mortgages and savings and investment products, said EMCAS. Almost 11 million Brits are unsure if they can claim for financial mis-selling or have no idea if they have been mis-sold to, said the firm. Those who have been mis-sold to but have yet to make a claim could be missing out on substantial amounts - the average payout for a claim about mis-sold PPI is £2,6503. EMCAS said its research showed consumers who are making claims are experiencing delays as bank...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Fifty years after 'Bogle's Folly', what comes next for financial advice?

Fifty years after 'Bogle's Folly', what comes next for financial advice?

'Indexing will continue to grow, but the wrapper through which investors access it will change'

Gillian Hepburn
clock 12 October 2026 • 4 min read
Chris Justham: Why the industry must 'entertain and engage' investors

Chris Justham: Why the industry must 'entertain and engage' investors

‘We can’t just offer them a dry cracker and ask them to chew it down’

Chris Justham
clock 07 October 2026 • 3 min read
Jupiter Merlin makes 'keystone' changes and cuts charges on Select range to attract advisers

Jupiter Merlin makes 'keystone' changes and cuts charges on Select range to attract advisers

Two new funds launched

Michael Nelson
clock 06 October 2026 • 6 min read