Insurers turn their backs on HBOS staff
Fri, 26 Sep 2008
Leading insurers are neglecting HBOS staff by refusing them payment protection insurance (PPI) at a time when they may need it most, says Burgesses .

According to the PPI specialist, this "blackballing" is in keeping with the way big banks and insurers have behaved in recent years and is partly the reason for PPI’s controversial reputation. Following the announced take-over of HBOS by Lloyds TSB, thousands of staff could be facing redundancy and Burgesses says for staff worried about protecting their financial security, finding PPI insurance is becoming a real problem.

Sara-Ann Burgess, managing director at Burgesses, said: "This approach is typical of how the big banks and insurers have behaved in the PPI market for years. They have been quick to profit by selling over priced policies to customers who in many cases were not even been eligible to claim on the insurance . Now when genuine people, with genuine fears come to take out cover they are refused."
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