Insurers' PPI responsibility: Accepting responsibility
Against the backdrop of the recent FSCS levy increases, Martin Friel asks what responsibility insurers have for making sure products sold on their behalf are done so properly.
The final bill for the payment protection insurance (PPI) mis-selling scandal could reach £3bn. That's not a misprint - it could actually hit £3bn. At least that's the estimate provided by the Financial Services Authority (FSA) as it introduces new measures to ensure firms sell PPI in an appropriate way.
Now all this cost isn't going to rest on brokers' shoulders (it's mainly to do with complaint redress and implementing the new measures) but there is still plenty of pain ahead for general
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