ABI leaps to defence of PPI after FSA attack

clock •

A row has erupted between the ABI and FSA over the future of payment protection insurance after the regulator said firms "may wish" to stop selling PPI.

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 prod...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

Budget 26: The protection and health impact

Budget 26: The protection and health impact

Protection industry reflects on missed opportunities

Cameron Roberts
clock 30 October 2026 • 5 min read
Is failing to protect a client's income an oversight or neglect?

Is failing to protect a client's income an oversight or neglect?

What happens to your financial plan if your ability to earn reduces or stops?

Kevin Carr
clock 29 October 2026 • 3 min read
Why the protection gap is a problem of reach

Why the protection gap is a problem of reach

'Most people I meet have never had protection properly explained to them'

Cherian Skariah
clock 16 October 2026 • 4 min read