Blog: FSA is willing to listen to the protection market


The FSA is currently consulting on its guidance for payment protection insurance (PPI) and potential replacement products such as short-term income protection (STIP).

Steve Devine, chairman of trade body Protect, produced a personal blog following his meeting with the regulator to discuss its plans and the potential impacts. The FSA's main message is that it welcomed opinions from all stakeholders and it has not named any specific products that are cause of concern. However, there are a vast amount of short term protection products that have been in place for many years and are not PPI products but could be captured in this net, so the guidance relates to both new and existing products. At present the FSA holds the view that debt waiver and debt...

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