The British Insurance Brokers' Association says it is launching a series of payment protection insurance products with enhanced benefits and improved commissions to boost intermediary and consumer confidence in the market.
PPI has come under attack from the Financial Services Authority (FSA) after research found many firms were not giving customers clear information during the sales conversation and were failing to establish the PPI policies they recommended were suitable. The new loan, income and mortgage PPI products are actually being launched via BIBA’s scheme provider, British Insurance, and BIBA says they are designed to "offer greater benefits to consumers", including partial cover on often-excluded stress, back-related and pre-existing conditions, lower premiums and a removal of the AIDS exclusion. ...
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