Let’s hope FSA shares Reeh’s confidence in his payment protection insurance deals
MORTGAGE STRATEGY - 10TH DECEMBER 2007
Is the reputation of brokers at risk? Early in 2007, I had cause to respond to criticism from Thomas Reeh, chief executive of Blackandwhite.co.uk, who took exception to my concerns over the mis-selling of payment protection insurance, its huge commissions and the promotion of single premium deals.
He accused me of being out to get brokers, which is nonsense. So I hope he doesn’t interpret the FSA and the police sweeping into his offices as a sign of someone else out to get him.
Reeh has always been strident in his backing of single premium payment protection insurance. Let’s hope those investigating his firm think the same.
The Competition Commission believes brokers have a key role to play in the provision of payment protection insurance, so I hope for his sake nothing is discovered that can further blight the reputation of the sector.
Simon Burgess
Managing director
British Insurance
