ABI concerned PPI market may collapse if suggested proposals go ahead
The Association of British Insurers (ABI) has been criticised over its response to the Competition Commission's stance on payment protection insurance (PPI). Reacting to the commission's ban on selling the controversial product, the ABI released a statement that said it acknowledged the problems in the PPI market but expressed concern it could be destroyed by the proposed solutions, especially in the wake of the current credit crunch. Matt Morris, policy adviser at LifeSearch, said he was unsurprised the ABI was willing to defend PPI and the situation was "unfortunate". Jonathan Frenc...
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