Planet Insurance

The Competition Commission report on payment protection insurance (PPI) is a huge opportunity for protection insurers and advisers. Combined with the implementation of the Thoresen Review and Money Guidance, it will mean better products at reduced prices being made available to large numbers of consumers. The losers will be the small number of large distributors that are sitting on gross written premiums of £3.5bn and profits of £1.4bn (2006 figures). PPI is sold by distributors at the point of sale of credit or mortgage; giving them an inherent advantage over their competition. Yet, the ...