Some of these firms, along with other market players, now offer or plan to offer regular premium PPI instead of a single premium product. The FSA expects other firms still selling single premium PPI to take note of these developments.
The FSA said it recognised the importance of appropriate protection insurance in the current economic climate, but remained concerned over the standard of sales of single premium PPI.
The FSA added that customers being sold this type of product should be told how the
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