Podcast Location:
Download it here [file size: 27.3 MB]
Categories:
Insurance Law
Consumer Law
CPD Points:
Up to 1 point. details »

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Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
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Regulated by the Bar Standards Board:
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Regulated by ILEX:
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Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcasts serves to explore the legal issues surrounding payment protection insurance. This is an area of consumer credit law that is both highly regulated and highly complex.

It serves to outline the role and findings of the various consumer regulators in protecting consumers from unfair agreements that tie together the selling of financial products with the selling of insurance.

Outcomes:
After completing the course you will:
  • Understand how PPI works;
  • Understand the major criticisms and deficiencies in single premium PPI agreements;
  • Know the rules governing consumer credit agreements, in particular the rules about 'multiple agreements';
  • Understand the reasons why there has been criticism made against PPI by consumer rights organisations;
  • Know the consumer remedies available where PPI forms a component of the consumer credit agreement.
Level:
Specialist Difficulty: 5 of 5
Classification:
Legal Principles
Legislative Updates
Panel Discussion
Sources and References:
  • Goode's Hire-Purchase Law and Practice Second Ed. (1970);
  • Report of the Committee on Consumer Credit 1972;
  • The Consumer Credit (Agreements) Regulations 1983 (SI 1983 No.1553);
  • Heath v Southern Pacific Mortgage Ltd [2009] EWHC 103 (Ch);
  • 'Protection racket' CAB evidence on problems with payment protection insurance (2005);
  • Wilson & Anor v Hurstanger Ltd [2007] EWCA Civ 299;
  • s.131 Enterprise Act 2002;
  • Financial Services and Markets Act 2000;
  • Consumer Credit Act 2006;
  • s.9(4) Consumer Credit Act 1974;
  • s.18 Consumer Credit Act 1974;
  • s.11(1)A and s.11(1)B Consumer Credit Act 1974.

This podcast is appropriate for anyone interested in consumer law and rights. It looks at forms of insurance taken out when a financial product is sold with the purpose of helping the borrower meet his repayment obligations if he succumbs to death, accident, sickness or unemployment.

Podcast Added 09/04/09

Podcast last reviewed: 2011-03-28

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