Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 18th of November 2018
December 9, 2009

MPPI sales soar at Select & Protect

by Gill Montia

Story link: MPPI sales soar at Select & Protect

Select & Protect has reported a surge in sales of Mortgage Payment Protection Insurance (MPPI) with sales increasing by over 90% since the launch of its new offering, in July.

The firm’s sales director, Paul Firkins, says: “Our MPPI product boasts a number of market leading selling points including the option to sell unemployment only cover and the option to sell the product as standalone – features which are strongly sought after in the current climate, yet lacking from many competitor MPPI products currently on the market.”

The new product, provided by FirstAssist Insurance Services, is available to registered brokers via online trading platform, S2, and Select & Protect is currently working on an e-campaign to offer tips on successful marketing.

In other MPPI news, the Financial Services Authority (FSA) recently announced that it has developed an industry-wide package of measures will result in MPPI consumers receiving refunds totalling around £60 million.

According to the regulator, the industry has acted in response to concerns over recent increases in premiums and reductions in MPPI cover.

Firm have agreed to make refunds and reinstate cover, for customers who have experienced changes to their policies in 2009.

 

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