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Loans Insurance 'horror Story'

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The word "scam" comes to mind.


Loans insurance 'horror story'

Sascha Hutchinson, This is Money

4 August 2006

IN A report described by one consumer organisation as a 'horror story', the Office of Fair Trading has identified several troubling issues related to cards and loans insurance.

High commission rates, wildly varying policy prices and vague policy wording are several aspects of the industry that are cited in an interim report into the troubled insurance product.


Salespeople employed by banks, card providers or other lenders are earning an average 60% commission, with some salespeople earning 70% for those who sell PPI with a store card.

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