Allianz Insurance has pushed back JD Williams’ counterclaim for PPI damages and increased its original claim to Â£ 36million.
The litigation concerns a pending claim in the High Court in which Allianz challenged JDW’s attempt to seek counterclaim for the PPI payments it made to customers relating to the sale of historic insurance products.
Allianz argued that JDW was an experienced seller of supplemental insurance products and knew the risks.
In a market update today, parent company N Brown said, âThe claim and counterclaim are extremely complex and the proceedings remain at an early stage, with each party having only recently completed a long fiscal year. of disclosure.
“We continue to gather detailed and factual evidence from experts and witnesses regarding several elements of the claim and counterclaim.”
Allianz has now filed a new claim in court to broaden the scope of its original claim in relation to another customer redress exercise that has yet to be undertaken.
Allianz said he estimates the value of this additional element of the claim, if the claim is successful, could reach Â£ 36million.
The case is currently due to be tried in March 2022.