Debra Weeks of the ABI claimed recently on BBC News that up to 50 per cent of all insurance claims were fraudulent.
What grounds are there for assuming that least 50 per cent of all so-called “misselling” claims are dishonest, especially when they cannot be tested in the courts?
There is surely room for class actions against consumer organisations such as the Consumers' Association, whose reference book, Which Way to Buy, Own and Sell a Flat, written by Michael Haley in 1996, argued that endowment mortgages were better under some circumstances while stating on page 31 that “there is no guarantee that the policy will provide a surplus lump sum on maturity or even that it will be enough to cover the capital”. How can CA members claim compensation after that?
Above that, the increasingly distressful letters from Money Marketing correspondents over the abuse of regulatory power need to be addressed by a different form of Government, by any party, which secures democratic election but then behaves dictatorially, pushing through legislation and regulation without concern for consensus by taking account of all opinions and experience outside of the narrow party confines.
Proportional representation would be a start to limit the power of prime ministers to call wars and govern without concern for all constituents.