ABI leaps to defence of PPI after FSA attack

The ABI says the insurance remains the only financial product that covers joblessness in a time of “increasing unemployment and over-indebtedness”. Earlier today, the FSA published a damning update on its thematic review into the sale of PPI, recommending firms consider cutting sales for good “given the continuing problems in the sales of this product”. But Nick Starling, director of general insurance and health, says: “With increasing unemployment and over-indebtedness, it is essential that people protect themselves against losing their regular income. “PPI is the only financial product...