The Association of British Insurers steps in
- 28TH JUNE 2007
The Association Of British Insurers has actively responded to the Financial Services Authority’s investigations into payment protection insurance by pledging to do all it can to help enforce a fairer system and policy pricing to ensure that consumers get the best value for money possible.
Malcolm Tarling, an ABI spokesperson, recognises that fact that consumers all over the United Kingdom need to be educated about payment protection insurance and what it could possibly do for them. He has also recognised the fact that a high number of people are heavily in debt and actively need some sort of protection should they ever find themselves needing help to keep up repayments. Unemployment, injury and illness can all prevent us from working and none of us know what is just round the corner.
Both mortgage payment protection insurance and loan and credit card payment protection insurance are sold by high street banks and lenders and are generally overpriced as well as impossible to claim on. Mr Tarling has stated that the ABI are committed to resolving this situation, and he already has a few examples of what companies selling this insurance should be like.
Standalone payment protection specialists British Insurance is just one of a number of companies that provides protection that is excellent value for money alongside good customer service to ensure that no policy is ever mis-sold. Mr Tarling and the British banks would do well to tae a leaf out of the British Insurance book.
