Welcome to Money Covered, our one stop shop for all things financial service insurance.

In this episode, Mel is once again joined by David Allinson to discuss the FCA’s proposed section 404 consumer redress scheme for vehicle finance, now the FCA has confirmed they will be going ahead with the scheme.

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In this episode, Mel is joined by David Allinson to discuss the FCA’s proposed section 404 consumer redress scheme for vehicle finance, focusing on discretionary commission arrangements, the scheme’s scope (regulated agreements from 2007 to November 2024), rebuttable presumptions of unfairness and loss, and an estimated £8.2bn in redress averaging about £700 per file. The conversation flags contentious areas limitation via deliberate concealment under section 32 of the Limitation Act, causation, and the redress methodology—alongside the consultation’s extension to 12 December and expected final rules in the spring.

We hope you enjoy this episode, please subscribe to stay up to date with the latest episode.

Hosted on Acast. See acast.com/privacy for more information.

In this episode, Mel is joined by Kim Wright and Matt Watson to discuss Employment Practices Liability (EPL) insurance, its scope, and its intersection with Directors & Officers (D&O) insurance.

The episode looks at key topics in this area such as the employment claims process, awards and settlements, common policy exclusions, and the overlap between EPL and D&O policies.

The episode highlights the importance of early resolution to minimise costs, the challenges of late notifications, and the potential for claims to escalate.

We hope you enjoy this episode, please subscribe to stay up to date with the latest episodes

Hosted on Acast. See acast.com/privacy for more information.