Claims management companies (CMCs) make most of the cold calls – PPI, accident claims, investment plans etc.
The insurance company AXA surveyed people to ask about the cold calls they receive in 2018
The biggest subjects for cold calls were PPI, accidents in public places, accidents in the workplace and motor insurance claims.
An estimated 12 million Britons are cold called per day – despite stricter rules and the recent Government crackdown.
These companies are ‘bombarding people with cold calls, emails, letters and text messages’ and ‘clearly contributing to be the bane of many people’s lives,’ according to the report from AXA.
Around half of the 2,131 consumers asked by AXA said they think the regulations around CMCs need to be significantly tightened up.
Possible changes with significant support include:-
- Cold calls from CMCs to be made illegal
- A cap of less than 10 per cent charge on the fees that CMCs can make, compared with about 30% that they currently charge.
- Make it mandatory for calling companies to show the numbers they are calling from
- A time limit on when consumers can claim back compensation after an event (most people think this should be 12 months).
- A ban on automated calling
A quarter of people surveyed said they felt stressed by these calls from CMCs and 44 per cent were concerned about how the companies had got their details.
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