Brokers urged to respond to FSA consultation on PPI
Brokers have been urged to respond to the joint investigation into payment protection products by the Office of Fair Trading and Financial Services Authority (FSA) and respond accordingly.
Steve Devine, chairman of Protect, an association representing comapnies and individuals working in the UK's protection markets, warned that brokers should be aware that the while a first glance the investigation appeared to be about payment protection insurance (PPI) it could finally expand to include personal accident or sickness policies along with cover for life events such as unemployment.
He also highlighted that the consultation document contained a draft product risk report describing it
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