ABI jumps to defence of PPI
In a joint response to the FSA review of payment protection insurance, the Association of British Insurers, APACS and the British Bankers’ Association, have pointed out that, if sold properly, PPI provides important protection against loss of income due to redundancy or illness, taking the stress out of trying to meet repayments and of ongoing financial pressure.
The trade associations said they did however take seriously the FSA’s concerns and have made clear that they will work to address their specific concerns. At the same time, the associations were keenOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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