AMI urges removal of MPPI from inquiry

Chris Cummings, director general of AMI, said consumers benefitted from a robust and principally advised sales process on MPPI, and emphasised its differences from other forms of PPI.

He added: "We were pleased to see confirmation that the prohibition of the active sale of PPI by a customer within 14 days of the sale of credit had not been applied to intermediaries and only distributors. However, we also call again for the Commission to acknowledge and understand the benefits to consumers of using intermediaries who act as agents of the client."

AMI raised a number of other points in its submission, including calling for consideration of unintended consequences for consumer protection through the removal of single premium PPI, warning the Commission to be wary of further regulation which may force good firms out of the market, and a call for regulation to be applied to price comparison websites.