Disappointing attack on Co-op's ethical policy

As managing director of britishinsurance.com, I wonder what Simon Burgess's agenda is (Internal ethics are very different, p58, April) in misquoting our ethical policies and then criticising our payment protection insurance, even though he says he was "pleased to see that the Co-op was more competitive than other lenders".

The Co-operative Bank's ethical policy explains what the Bank will and will not do with its customers money, while CIS's ethical engagement policy sets out the way that it influences the companies in which it invests.

While we take all our pricing seriously and seek to remain competitive, our ethical policies do not say that all our products will be the cheapest on the market, nor should they.

If you are prepared to stand up on behalf of your customers, I suppose it is only to be expected that your rivals will take cheap shots from time to time but it still doesn't make it any less disappointing.

David Neave, Director of general insurance, Co-operative Financial Services.