Wednesday, 11 June 2008

Paul Asplin's new web page

A new Paul Asplin web page is here! - Paul Asplin

Wednesday, 4 June 2008

People being mis-sold PPI

More than two million people have been mis-sold payment protection insurance (PPI) over the last five years, Which? has claimed.

This will bring PPI insurance marketing and sales under increased pressure, with a suspected one in three consumers unlikely to be able to make a claim.

Personal finance campaigner at Which?, Doug Taylor, remarked that he is "amazed"at the scale of the problem.

He said: "We've always known that people were being mis-sold PPI, but we were still amazed to discover the scale of it.

"It appears that salespeople are chasing their commissions, their bosses are chasing profits - where's the sense of responsibility to the customer."

Consumers may fall foul of exclusions found in policies and could potentially tarnish the reputation of the insurance marketing and sales sectors.

Insurance marketing competition

Increased insurance marketing competition is improving the offering for consumers, according to

Firms' insurance marketing campaigns are under more pressure to raise the "standards" of policies to keep up with the competition.

Head of research at, Peter Gerrard, notes that competition is particularly rife in motor insurance marketing.

He said: "They are having to be more reactive and more competitive and bring their premiums down, and the result is increased competition.

"So what might be a really cheap policy may still offer some really good benefits. It is a case of looking around, looking at what is excluded and at what you need."

According to the AA British Insurance Premium Index for the first quarter of 2008, buildings cover has remained at an average of £209 since the beginning of the year while contents insurance has risen by one per cent to £129.