Ian Sawyer: How ASU has learned and evolved from the errors of PPI

The Payment Protection Insurance (PPI) scandal was an insurance story that crossed over from the financial pages to become front page news frequently. By the August 2019 deadline set by the FCA relating to historic mis-selling cases, a total of 32.4 million claims had been made and more than £38 billion paid out. FCA Executive Director Jonathan Davidson called it "the largest consumer redress exercise in the UK's history. " While most of these policies were sold by banks, who sold it alongside mortgages, credit cards and other unsecured loans, the fall out impacted the whole insurance...