Finance firms have agreed to change the way in which Payment Protection Insurance (PPI) is sold over the Internet. This decision follows the Financial Services Authority's (FSA) initiative to improve selling standards in the PPI market.
Firms have agreed to change the way in which they sell PPI alongside loans. For example, firms were automatically including PPI insurance, using techniques such as 'pre-ticked' boxes online.
Payment protection insurance is usually sold alongside another product, such as a credit card or personal loan.
For further information: Firms agree to change the way they sell PPI over the internet