The Competition Commission's decision to ban the sale of single premium policies will ultimately be better for the PPI industry as whole, says Defaqto's Brian Brown, "The ban on the sale of single premium PPI policies has long been overdue and provides the opportunity for lenders to make a fresh start. In the long-run customers will benefit from PPI policies that have more transparent pricing, and better early cancellation terms. Given the current economic climate the need, and demand, for PPI has probably never been so great. Now is the time for providers to launch PPI policies which are affordable, and which will protect their customers in difficult times."
Income protection insurance: News update: 02/02/2009