Summary
THE City watchdog has doubled its original estimate for the cost to insurers of compensating people who are mis-sold controversial payment protection insurance (PPI).
The Financial Services Authority said it was now expecting firms to have to handle around 450,000 complaints about the cover each year going forward, rather than the 158,000 it had originally estimated.See the full content of this document
Extract
Counting the Cost of Mis-Selling Insurance
The inflated number of projected complaints is expected to push up the cost of settling future mis-selling claims from up to Pounds ...
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