Despite being cast as the black sheep of the insurance industry, there is a future for the payment protection insurance markets if they can gain the trust of consumers. Lucy Quinton reports.
Following the Financial Services Authority's (FSA) clamp down on mis-selling in the protection industry, both payment protection insurance (PPI) and mortgage payment protection insurance (MPPI) have been dogged by bad press and questionable reputations. However, what is more concerning is that their tarnished image looks set to remain under the glare of the public spotlight. While the protection market has stepped up its efforts to clean-up selling practices in the sector, the complicated nature of the cover means consumers are often unable to tell the difference between MPPI, PPI and ot...
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