FSA clamps down on online auto PPI sales

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Finance firms can no longer automatically offer payment protection insurance after the FSA changed how the products are sold over the internet.

Previously, techniques such as a ‘pre-ticked’ box led to many customers taking up PPI, without actively choosing to buy it. But firms have agreed to change the process, ensuring clients make a choice about PPI. FSA retail themes director Vernon Everitt says the regulator made PPI purchasing clarification a “top priority”. “Naturally, many customers are focused on getting the loan itself, but it is just as important that they also think about whether or not they want to protect their loan repayments by taking out PPI cover,” he says. "This change means that it will be up to the custo...

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