Former Natwest employee reveals how staff had to hit targets in PPI mis selling racket

[MARTIN3030]

http://www.guardian.co.uk/money/2012...sell-insurance Edited November 11, 2012 by MARTIN3030

[dx100uk]

links dead

 

dx

[Mike_hawk]

Guardian links have a habit of changing to upper case mid address...... try this with the 'PPI' in lower case

 

http://www.guardian.co.uk/money/2012/nov/08/ppi-expose-banks-drove-staff-mis-sell-insurance

[MARTIN3030]

Yes works for me.

[thegfb]

This reminds me EXACTLY of how my appointment at my local Natwest branch went when I was missold PPI... shame on the management putting such pressure on their staff.

[Fairy Nuff]

I've been doing battle with NatWest for almost 4 years trying to get them to admit the mis-selling of insurance.

I went to the Ombudsman to no avail, his judgment on my case was only a few months before the PPI turnabout.

The criteria mentioned about PPI, such as: it was forced on you as a condition of getting a loan, you didn't want it,

didn't need it, being unable to compare it with other companies etc - all applied to my circumstances.

 

We had a meeting with the 'bank manager' to discuss the level of borrowing our company had with them and he said that part of the overdraft should be consolidated in to a loan. He said that NatWest insisted we had to have insurance cover and that a colleague from their 'NatWest Life' (now Aviva) would contact me direct to arrange this.

 

We complained bitterly that we didn't want even more expense - especially since they had any lending totally covered, including the deeds to our house!! To no avail - he said we had to have it! We were then contacted and their rep encouraged us to include critical illness in the policy which would cover either life of the 2 directors involved in the company (i.e. my husband and me). This was called a LEVEL TERM ASSURANCE. If any claim was made, the proceeds would be paid only to the business to offset any borrowing. (Heads NatWest wins, Tails, you lose!) Over the 10 year period of the policy (2000 - 2010) we paid £10K!

 

In the last few weeks, they now say that this isn't the same as PPI and that the only recourse I have would be to take them to Court. I can't go back to the Ombudsman, because he has 'ruled' and any appeal wouldn't be considered by other Ombudsmen. Has anyone experienced the same anything similar? Any advice would be appreciated.

[ims21]

It isn't PPI...it is what is known as a KeyMan insurance (amongst other things). This covered key personnel within the limited company.

 

Accordingly the PPI rules don't apply.

 

I would say that your only chance is in court.

[Fairy Nuff]

Thanks for your advice. I've got correspondence to state that they have no record of it being

a requirement in respect of the loan, so my contention is, why were we forced to have it? (This

is were it is akin to the PPI ruling). Ims, do you have any pointers/or case law to direct me to in

order to prepare my challenge in the small claims court? Thanks.