Banks reject Burgesses 'rip-off' claim
Several banks have rejected a claim that banks are profiteering from selling 'rip-off' loan-protecti...
Several banks have rejected a claim that banks are profiteering from selling 'rip-off' loan-protection insurance.
Simon Burgess, managing director of insurance broker Burgesses, claimed the results of a survey showed that: "Banks continue to profiteer from selling this product and that people are paying a heavy price for failing to shop around. They are exploiting the poor and the poorly advised."
He alleged banks sometimes add the cost of cover to the loan without necessarily telling people they
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