Nigel Payne, managing director of Assurant Intermediary, said that the Commission’s provisional report provided no new detail and that it “beggars belief” that people will be offered PPI when buying goods from a catalogue, but not with a mortgage.
Payne said: “I don’t dispute the aim of the inquiry to ensure that consumers get a fair deal, but I’m beginning to doubt whether the final recommendations will achieve this.”
Ian Smart, head of product development and technical support at Bright Grey, said: “I can see both sides of the argument. The industry always needs clarity; we need to know where to draw the line. However, when someone is buying from a catalogue, there is no pressure to take out PPI from a sales person in the same way as there is with a mortgage.”
