People are still interested in payment protection insurance says Capita
Thu, 18 Nov 2010
Around 30 percent of people who have cancelled, or are considering cancelling, their payment protection insurance (PPI) would think about buying a replacement policy, according to research conducted by Capita.

Despite the negative publicity surrounding the product, a great many loan customers would contemplate buying the product again in the future. Additionally, 49 per cent of respondents said that they were happy with their current PPI policies . However, the findings also found that over 25 per cent considered the product a luxury rather than an essential purchase.

Commenting on the study, Brian Lindley, insurance solutions manager at Capita Insurance Services, said: "Historically, many customers have decided not to take up this type of cover and believe it isn't essential. However, this survey shows that even though we cannot escape reports which suggest that trust in this market place has been lost recently, there is still an appetite from customers to purchase a replacement product that is fully compliant with new regulations."
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