PPI has spelt little but trouble
Editor Andrew Tjaardstra reflects on Swinton's fine
The payment protection insurance market has given insurance a bad press in the last few years with the Financial Services Authority forced to clamp down on a raft of poor selling techniques from banks, brokers and insurers alike.
The latest chapter in this saga is the FSA fining Swinton £770,000 for adding PPI to cover monthly direct debit payments for home or motor insurance to 480,000 policies between December 2006 and March 2008. As a result, it is offering refunds to all customers affected.
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