ABI: FSA review shows customers starting to benefit from industry initiatives.

ABI: FSA review shows customers starting to benefit from industry initiatives.

ABI: FSA review shows customers starting to benefit from industry initiatives.

Commenting on the publication today of the FSA’s latest review of payment protection insurance (PPI), Stephen Haddrill, Director General of the ABI (Association of British Insurers), said:

” We are pleased that the FSA recognises the progress the industry is making in improving this market. Industry initiatives to improve customer understanding are having a positive impact: the report shows that customers are now told that this cover is optional, and refunds are available on single premium policies that are cancelled.

” The FSA recognises that PPI provides valuable protection. For our part, we agree that reform is needed in some areas and insurers, banks, mortgage lenders and consumer credit providers are working hard to ensure that consumers have the right information they need to get the best possible deal from PPI”

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