YOUR INDUSTRY
TOP 10 HOT TOPICS
- Europe
- Retail Distribution Review
- Treating Customers Fairly (TCF)
- Payment Protection Insurance (PPI)
- FOS/FSCS
- Homeowner Mortgage Support Scheme (HMSS)
- FSA Fees
- Credit Crunch
- Claims Management Company (CMC)
- Consumer Credit Licence (CCL)
Your Industry
Current Issues
Claims Management Firms
Update on Claims Management Firms
Claims Management Companies (CMCs) have been operating in the financial services arena for some time. However, recently many members, in particular mortgage intermediaries, have experienced increased speculative activity by CMCs and this has become an area of significant concern.
With our industry facing extremely challenging and tough times, AMI do not want to see our members unjustifiably battling with CMCs on a daily basis. In particular, such practices by CMFs as ‘scatter gun’ complaints and the recruitment of brokers are things members should be aware of.
Members who have been contacted by CFCs, or have any concerns regarding CFCs, should refer to AMI’s Claims Management Companies newsflash, from the 28th October 2008 for more detailed information:
http://www.a-m-i.org.uk/news/newsflash.php?id=221
For advice on dealing with ‘scatter gun’ complaints, in particular, please refer to AMI’s guidance on the use of Statements of Truth: