Planned PPI compensation claims ‘should help weed out mis-sellers’, says Ceta
Planned compensation claims by up to 70,000 consumers, who believe they were sold inappropriate or overpriced payment protect insurance (PPI), is good news if it helps to rid the market of those responsible for mis-selling, according to Ceta.
The insurance network believes the poor press received by this section of the loan cover market has unfairly caused mortgage payment protection insurance (MPPI) to also bear the brunt of the adverse publicity.
“PPI customers who were mis-sold cover or overpaid have every right to get their money back,” said CETA managing director David Quick. “Figures by MoneySavingExpert.com suggesting that PPI sales generate £5 billion in premiums each year, with only 20% paid out in claims, doesn’t help the
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