Paymentshield News & Updates

Here you will find regular news, updates and key messages from us.

New IncomeShield criteria opens the market for advisers 16th May 2011: We've enhanced our IncomeShield cover to provide you with an insurance product that is now suitable for a wider range of clients. Read full news item

Significant Service Disruption: 4th - 6th March 2011 25th February 2011: We want to inform you in advance that we will be undertaking changes to our systems. This unfortunately means that you will experience disruption to our normal service over the weekend of the 4th, 5th and 6th of March. Read full news item

We're bringing back Unemployment Only cover to our MPPI 21st February 2011: Paymentshield is bucking the trend by restoring its unemployment only option on its Mortgage Payment Protection Insurance (MPPI) product. Read full news item

Paymentshield boosts upfront commission February 2011: Paymentshield is to boost the amount of upfront commission available to brokers by ten per cent. A new commission option, Enhanced Indemnity, has been developed to provide intermediaries with more immediately available cash to help them through current testing times. Read full news item

IncomeShield Prize Draw Winners Announced January 2011: At the start of September 2010 Paymentshield introduced an incentive to celebrate the launch of IncomeShield, a new income insurance product designed to offer clients financial protection should they find themselves unable to work due to accident sickness or unemployment. Read full news item

One in three cannot afford to save January 2011: According to research carried out by Skipton Building Society, a third of people in the UK feel so strapped for cash each month that they cannot afford to save any money. Read full news item

More than 2 million have used credit cards to meet mortgage or rent payments January 2011: A new, exclusive YouGov poll for Shelter, the housing and homelessness charity, suggests that more than 2 million people have used their credit cards to pay their mortgage or rent in a last ditch attempt to keep a roof over their heads. Read full news item

18 people chasing every job vacancy November 2010: The number of unemployed people chasing every job vacancy has risen to 18, with half of those not confident of finding work in the next two months, according to a new report. Read full news item

Over 61,000 tenants enter the rental market November 2010: The latest figures from Countrywide show that Tenant demand reached new heights in quarter three 2010 with over 61,000 new tenants registering for rental accommodation - a 19% increase compared to the previous quarter. Read full news item

Increase in IPT from 4th January 2011 November 2010: During, the Government's Budget speech on 22nd June 2010, the Chancellor of the Exchequer announced his intention to increase Insurance Premium Tax (IPT) on all insurance policies from the 4th January 2011. Read full news item

Change to IncomeShield Underwriting Criteria November 2010: Following your feedback, Cardif Pinnacle have now improved the IncomeShield underwriting criteria. Read full news item

Paymentshield wins 'Best General Insurance Provider' at the Pink Service Awards October 2010: Pink Home Loans held their 8th annual Pink Service Awards on Thursday 8th October and we are delighted to announce that we were given the accolade of Best General Insurance Provider. Read full news item

Government Spending Cuts Increase the Opportunity for IncomeShield Sales October 2010: The Chancellor will set out the Government's four-year public spending plans in the Spending Review on Wednesday 20th October, in what is speculated to result in the greatest shake-up of the welfare system in a generation. Read full news item

No Compulsory Excess on our Home Insurance September 2010: We've now removed the compulsory excess for Accidental Damage and Personal Possessions on our home insurance product. Paymentshield Sales and Marketing Director James Watson explained that the change has been implemented following broker feedback. Read full news item

Whatever's most essential to your client, IncomeShield has it covered! September 2010: Latest research has revealed that people living in Britain today would leave cutting back on their pet and broadband costs until last when trying to reduce their outgoings. A staggering nine-out-of-ten of those surveyed by the Clydesdale and Yorkshire Bank would be unwilling to give up their web connection to save money with gym membership being the first to go when trying to economise. Read full news item

New Income Insurance product protects all essential outgoings August 2010: We've launched a revolutionary new income insurance product that allows customers to retain control of their financial commitments. IncomeShield provides protection for any of your client's financial outgoings making it much easier to promote to a wider range of clients. Read full news item

Increase your Business Stability with GI July 2010: The signs that recovery is on its way look likely to fade following the sadly unavoidable public spending cuts that are likely to have a knock on effect on the private sector. So, with mortgage income looking like it will remain unpredictable, how do you help maintain your business stability? Read full news item

Advice Vs Price May 2010: A Life Search survey revealed that 76% of clients who call up for financial advice, end up buying a policy significantly better or more comprehensive to that which they would have bought without advice and the same could be said of Buildings & Contents Insurance. Read full news item

Accidental Damage Cover should be Part of Every DIY Toolbox April 2010: Bank Holiday weekends may provide the perfect opportunity to kick off DIY projects around the house but with accidental damage being the most common reason people claim on their Paymentshield home insurance and the average claim being more than £500, Accidental Damage cover can be a very cost effective addition to your clients' DIY toolbox. Read full news item

Bridge your client's info gap to bridge your income gap April 2010: According to the homeless charity Shelter, at some stage 6.1 million people have resorted to borrowing on a credit card to help pay their housing costs and nearly one million people are currently paying their mortgage on credit cards. Read full news item

MPPI still offers invaluable protection during fragile recovery March 2010: Despite The Council of Mortgage Lenders (CML) reducing its repossession forecast for 20101 it looks like the road to recovery is going to be a bumpy one and a recent report from the Chartered Institute of Personnel and Development would certainly indicate this. Read full news item

Latest Retention News March 2010: We're piloting a new initiative to reduce policyholder cancellations. From the 1st of March to the 31st May, a small group of customers will receive an additional paragraph in their renewal letter which is designed to encourage them to call us to discuss their premium rather than just cancelling their policy. Read full news item

No Claims Discount Entitlement for Landlords January 2010: Following your feedback, we've been working hard with our underwriters, Royal & Sun Alliance Insurance plc, to provide greater flexibility around the No Claims Discount (NCD) entitlement for Landlords Buildings & Contents Policyholders. Read full news item

Regulators Identify Flaws in Comparison Websites January 2010: For customers using price comparison websites regulators are finally cracking down on the tendency to provide a fast quote rather than an accurate one. Read full news item

Paymentshield Premium Freeze December 2009: From the 1st January 2010 we are freezing our Buildings & Contents renewal premiums. Read full news item

Smarter and Faster ways of working with our new Online Business Services November 2009: In order to provide you with quicker and more efficient ways of working with us, we have two new services to offer you. Read full news item

Proposed National Postal Strike: Friday 6th and Monday 9th of November November 2009: The proposed national postal strike will greatly affect our incoming and outgoing mail, so in order to maintain our high level of service, we would like to be as flexible as possible in our ways of working with you. Read full news item

Improvements to MortgageProtector Solo October 2009: We've made some enhancements to MortgageProtector Solo, our MPPI product underwritten by Pinnacle Insurance plc, for existing mortgage borrowers (those who have had a mortgage or re-mortgage agreement in place for more than 30 days). Read full news item

MPPI Benefit Insured Clarification - In relation to Policies NUI/PS/001 and NUI/PS/003 (underwritten by Aviva Insurance Limited) August 2009: We wanted to let you know that we are writing to your Mortgage Payment Protection Insurance (MPPI) customers who have a Paymentshield MPPI NUI/PS/001 or NUI/PS/003 policy to clarify that their monthly benefit entitlement at claim is linked to their monthly mortgage repayments. Please note: MortgageProtector (NUI/PS/002) and MortgageProtector Solo (PI/PS/001) policyholders are not included in this communication. Read full news item

Backdating cover to submission July 2009: Following your feedback, we are updating our Pending Case operating procedures from the 1st August 2009. Read full news item

This page is intended solely for the attention of Directly Authorised or Exempt Firms as defined by the Financial Services Authority.