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Article: Loan providers rapped for insurance; PERSONAL FINANCE.(News)
- Article from:
- The Birmingham Post (England)
- Article date:
- June 21, 2008
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Copyright informationCOPYRIGHT 2008 Birmingham Post & Mail Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: By Jeremy Gates Special Correspondent
Compensation claims running into millions of pounds are set to follow the recent damning Competition Commission report on the insurance cover that can make personal loans more expensive than borrowers often realise.
Although Payment Protection Insurance (PPI) - intended to protect repayments when borrowers are hit by accident sickness and unemployment - is also sold with store and credit cards and mortgages, the provisional 218-page provisional report from the Competition Commission (CC) focuses on its impact on personal ...