Over the last 12 months, 40 per cent of payment protection insurance (PPI) claims have been related to accident and sickness and not unemployment .
According to information from Paymentcentre, borrowers could be disregarding PPI because of the recent negative publicity. However, there is a danger that they could actually be putting themselves at unnecessary risk.
The negative publicity has centred around failed PPI claims following unemployment and the investigation by the Competition Commission and Financial Services Authority (FSA) into the mis-selling of single premium PPI by firms such as high street banks . With independent providers of PPI, such as Paymentcentre and British Insurance, there isn't any connection with the loan provider .
Shane Craig, MD of Paymentcentre, said: "Protecting yourself against unemployment and redundancy is just one reason to sign up for PPI. Being unable to work because of accident or illness is something that no-one can predict and can be equally devastating."




