Select & Protect, a provider of mortgage payment protection insurance, (PPI) is backing the FSA's review of PPI and its announcement that...
Select & Protect, a provider of mortgage payment protection insurance (PPI), is backing the FSA's review of PPI and its announcement that it is to determined to improve standards.
A report by the Citizens Advice Bureau (CAB) published at the start of Advice Week 2005 states that PPI is often very expensive, mis-sold to people who cannot possibly claim on it, and designed to exclude many of the most common situations that can lead to debt problems.
The report also highlighted that borrowers have found that they cannot make a successful claim on policies because of exclusion clauses and administrative barriers to making a claim.
Bruce Reid, managing director of Select & Protect, said: "We welcome the FSA's review of the way PPI is being sold. Unfortunately these problems aren't new and the situation needs to be addressed before more damage is done to the reputation of the insurance industry".
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
