Mortgage payment protection insurance

Professional Adviser

MPPI rates remain competitive, however tighter underwriting on unemployment cover could be on the cards if the economic slump continues, writes Kirstie Redford

The mortgage payment protection insurance (MPPI) market has, like many other markets, been affected over the past 12 months by the terrorist attacks in the US last year. With the resultant recession hitting many City of London firms and massive redundancies announced by many of the world's largest employers, it is the unemployment element of cover that has caused underwriters the most concern. Insurers have had a tough job on their hands trying to cover the heightened unemployment risks in many industries while continuing to make cover seem affordable and attractive to the majority ...

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