Payment Protection Insurance in the News

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Payment Protection Insurance in the News Again

Added - 04/02/2007

The news hounds just can�t keep away from the PPI (payment protection insurance) at the moment it really is hot news for the insurance industry, consumers and the FSA.

There is still speculation that the FSA is going to make a splash with massive fines of up to a million pounds a piece for ten leading companies for their practice procedures involving payment protection insurance. The whole issue still focuses on the mis-selling of PPI by hundreds of major firms who simply fail to inform their consumers of exactly what the bloody hell they are selling. In some severe cases the customer is not even given the option drop the PPI from their overall borrowing commitment.

Many in the independent insurance broking industry are furious with the big boys for blatantly causing the problem. Many independents want to detach themselves from the argument which is spreading the muck so to speak across the whole industry. The story goes on � lets hope there is a resolve in the pipeline for the benefit of the punter on the street.

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