A dismal picture

The only question that really applies to the number of new mortgage payment protection insurance (MPPI) sales is not 'Have they fallen?' but 'How much have they dropped?' since figures from the Association of British Insurers' (ABI) have shown continual dramatic declines since the last time the market increased in 2002 to 2003. Between 2003 and 2004, the number of new policies plummeted by 23.5%; 2004 to 2005 fared only slightly better with a 23% drop; and then 2005 to 2006 appeared to be reversing the trend with a 7% downward slide before the figures for 2006 to 2007 showed the biggest rec...