Don’t leave Santa and his helpers out in the cold this Christmas
M2 PRESSWIRE - 24TH DECEMBER 2007
Simon Burgess from independent payment protection insurance provider, British Insurance, is urging shoppers to spare a thought for Santa and his seasonal helpers who could be left out in the cold should they fall behind with their mortgage repayments.
Seasonal workers aren’t eligible for payment protection insurance or state benefits should they default on any loan agreements and with retailers employing around 50,000 temporary staff to meet the Christmas and New Year peak, Simon is concerned many may face a ‘bleak mid-winter’ should their finances fail.
He says: “This is very much the tip of the iceberg as there are whole swathes of our society left exposed without insurance cover because of their employment situation – including those on short term contracts, working for temporary employment agencies and especially pertinent at this time of year, Santa and his helpers.”
The payment protection insurance sector is currently under investigation by the Competition Commission, due to the excessive premiums charge by the many High Street banks and building societies and the high volume of policies sold to consumers who are then illegible to claim.
British Insurance believes payment protection insurance cover should be non-discriminatory and is lobbying for the introduction of less policy exclusions. He concludes: “The very people who are making it ‘the season to be jolly’ are being denied a financial safety net. Let’s hope they’re not suffering from any ‘ill…elf’ this season!”
Further information on payment protection insurance can be found at www.britishinsurance.com.
