PPI bill could hit £4bn

Houses of Parliament

The figure came at an evidence meeting of the All Parliamentary Group on Insurance and Financial Services held in the House of Commons at which both the British Insurance Brokers' Association (Biba) and the Association of Independent Financial Advisers gave presentations.

Mr Evans, chairman of the group, said: "I've seen indications that in due course the overall liability in relation to PPI is likely to be not in the hundreds of millions but the billions [of pounds]. I heard a figure of perhaps