Some companies offering payment protection insurance, which covers mortgage or loan repayments when individuals are unable to work following illness or redundancy, could have their rights to sell this cover revoked next month when the Financial Services Authority issues its update on the PPI market.
As well as barring some providers from selling this cover, the regulator could also call for much better information disclosure to consumers. The FSA, which is concluding a further investigation into sales practices of PPI, is however understood to be happy with some improvements in the advice and sales process of this insurance, particularly in the mortgage market.
See full Article (paid subscription required).
Posts
