PPI Claims – Lloyds TSB the biggest offender

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In figures released by the Financial Ombudsman detailing PPI claims for the first half of 2012, Lloyds TSB are revealed as having the greatest percentage of upheld cases with an amazing 98% of all cases being upheld by the ombudsman.

The Ombudsman service  upheld a total of 71% of all PPI cases in favour of the consumer, which is a far higher success rate than any other financial complaint that they deal with.

Lloyds TSB ‘s 98% PPI reclaim rate rate is closely  followed by MBNA Europe at 97%, Barclays at 93%, CitiFinancial at 93%, Welcome Financial Services at 92%, Lloyds-owned Bank of Scotland at 90%, HFC Bank at 90% and NatWest at 89%.

The financial services industry has set aside around £10 billion to cover claims where the customer either did not want or need protection insurance.

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