A ‘Plevin’ case is not when you have been mis-sold PPI, but rather you were not made aware of the high commission rate that your PPI seller was receiving.
Commission rates have been known to be as high as 90%, and many people argued that they would not have had the PPI had they known that the commission rate was so high.
Susan Plevin’s case set a new precedent when she received a pay-out based on this high commission, rather than the mis-selling of the PPI itself. Consequently, the floodgates opened on this type of PPI claim.
Since then, the Financial Conduct Authority declared a tipping point of 50% on commission.
Essentially meaning any commission rate up to 50% is ok, and the banks can keep the money, but any remainder over this 50% should be reimbursed. So if the commission rate was 75%, a 25% ‘partial uphold’ is given.
However, despite the FCA’s guidelines on commission-based PPI claims, court ruled that the Dorans should receive the entirety of the commission amount back, and not just the amount over the 50%.
Based on this ruling, many people may be due around 3-4 times the amount they were given if they received a partial uphold.