MPPI providers not treating customers fairly - Turner

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The FSA is concerned about the way insurers are treating customers who bought mortgage protection products, it has been revealed.

Speaking at the ABI's biennial conference yesterday, FSA chairman, Lord Turner, said the regulator was prepared to intervene where TCF was not being applied to customers who bought mortgage payment protection insurance (MPPI). Turner says it has come to his attention that some MPPI providers have been reducing cover and increasing premiums at a time when consumers are most likely to need the protection they have bought. "While MPPI has not previously been a major focus of our concerns, it may become one in an economic downturn," Turner says. "As the likelihood of unemployment-related ...

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