Claims management companies (CMCs) are the ones that make most of the cold calls – PPI, accident claims etc.

The insurance company AXA surveyed people to ask about the cold calls they receive.

The biggest subjects for cold calls are PPI, accidents in public places, accidents in the workplace and motor insurance claims. Between them, these account for most of the cold calls.

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 new 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 between six and 10 per cent 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.

The Department of Culture, Media and Sport, is looking into how these regulations can be tightened.

Between April 2014 and December 2015, the Claims Management Regulator issued 459 warnings, carried out 685 audits, started more than 150 investigations into specific firms and suspended 159 company licences.

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