Whereas payment protection insurance (PPI) has floundered in the UK market, on mainland Europe loan and credit card payment protection insurance is "alive and well," reports research consultancy Finaccord.
Latest research confirms that across 20 European countries, these two types of insurance combined were worth around €10.84 billion in gross written premiums in 2011, slightly down from €10.91 billion in 2007. However, while the UK market plummeted from €3.60 billion in 2007 to just €850 million in 2011 as most banks and other lending institutions withdrew their products, gross written premiums for loan and credit card payment protection insurance increased in the other 19 countries in Europe from €7.31 billion to €9.99 billion, a rise of 36.6%. Given that banks and other lending insti...
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