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In this scenario, the result from Calc 3 (£51.34) can be deducted from the Premium Refund in Calc 2. Therefore the redress figure is the result of Calc 2 minus Calc 3 (£286.54 - £51.34 = £235.20)

 

As a PDF document, this can be attached to an email, stored for later use or inserted into a document.

 

Note: The second line of the header contains the following information: ‘produced by’ is the licensee and the name in brackets is the user code. The information on the right hand side of the header contains the version number of the software and date of the System, Interest rate and DTA information (i.e. S070611 - System information 7th June 2011).

 

Note that if the complainant would not have purchased a PPI policy at all, then the full claim value must be deducted, via the No Premiums adjustment and a Premium Claim adjustment, for the Claim amount minus the premiums already deducted via the No Premiums adjustment.


Related Topics

PPI Scenario 5