Planet Insurance - Post PPI products

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By way of a Christmas present, the FSA and the OFT are consulting on guidance about new post PPI products, such as short-term IP (STIP).

This is new and welcome. Normally they act after the event. On the other hand, it is strange that the consultation contains no mention of the HMT work on simple products – a threesome was too much for them. And no mention of the FOS either. Although the product range covered is narrow, the paper is especially interesting because it covers themes that may be applied to new product development more generally. The deadline for comments is 13 January 2012. A theme that comes up repeatedly for providers and distributors is that new products should reflect the needs of the consumers they...

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