Liverpool Victoria PPI Claims – Who are LV=?
Under its full name, Liverpool Victoria Friendly Society Limited was founded in 1843.
For many years Liverpool Victoria’s was associated with “penny policies” – a service that provided a means of saving for people on a lower income.
Today Liverpool Victoria, or LV= as it is branded, offers customers insurance, investment and retirement products. It has offices across the UK with headquarters in Bournemouth.
Record fines for Liverpool Victoria
In 1999, Liverpool Victoria were fined a record (at the time) £900,000 by the Personal Investment Authority (PIA).
The PIA used to be responsible for regulating companies who conducted investment business with private investors in the financial services market.
This record fine was imposed for a number of reasons, including Liverpool Victoria’s failure to recommended suitable products to customers, not checking that salesmen were of “good character” and failing to keep proper records.
As reported in this Guardian newspaper article, Liverpool Victoria’s group chief executive admitted “This has been a difficult and painful period”. As many as 50,000 of Liverpool Victoria’s customers were due compensation, which totalled in the region of £10 million!
A decade later and it seems that Liverpool Victoria were making the same mistakes.
In July 2008 they were fined £840,000 by the Financial Services Authority (FSA) for “serious failings” in the way it sold PPI.
The FSA (now the FCA) are responsible for regulating the general insurance industry in the UK and the watchdog found more than 60% of the 97 sales calls they reviewed didn’t comply with their standards.
As reported in the Guardian, the FSA discovered that Liverpool Victoria added the cost of PPI to customers’ premiums without them asking for it.
When customers questioned the PPI and objected to paying for it, Liverpool Victoria’s staff were guilty of putting pressure on customers to take out the PPI.
Making a Liverpool Victoria PPI Claim
If you have had a loan, mortgage, or credit card with Liverpool Victoria within the last 25 years there’s every chance you’ll have been paying for PPI.
We’ve made claiming easy, taking the stress out of you having to deal with the paperwork, the stress, and the tactics employed by the bank to try and wriggle out of paying.
So….how do you start your claim?
#1: The first option for you is to fill in the form which can be seen on every page. By doing so, we will send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we send you with your form, we can make a start on your Liverpool Victoria PPI claim.
#2: The second option for you is to download our form, which again can be found on every page by clicking the ‘download pack’ button. Simply print it out, complete it and send it back to us, our address can be found here. Once we receive is back we’ll let you know and make a start.
Our team of experts are on hand to answer any questions you have via telephone, email or our live chat facility.
So….why wait, let’s get started!