CETA has renewed its call for the sale of single premium payment protection insurance (PPI) to be ou...
CETA has renewed its call for the sale of single premium payment protection insurance (PPI) to be outlawed in response to the Competition Commission's request for feedback on its probe into retail PPI sales.
David Quick, managing director of the general insurance network, said: "It was obvious five years ago when investigations into the PPI market began that single premium policies were the worst culprits and should be outlawed.
"Instead of a clampdown, we have had one investigation after another and very little action. In that time, how many millions of pounds have flowed into the coffers of the providers?"
He believes continuing PPI has infected the rest of the market. "The authorities have failed to stick up for good value insurance that could have helped people at a time when house prices are falling and unemployment rising," he said.
