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UK Post Office calls for honesty from PPI sellers

UK postal service incumbent Royal Mail has issued an invitation to the purveyors of the much maligned payment protection insurance to strive for honestly in their business dealings, the Daily Mail has reported.

The logistics major has called for PPI sellers to be open and honest about their industry, suggesting that providers of the insurance should make it clear to customers that PPI products do not have to be taking in conjunction with mortgages, personal loans or credit cards.

The Post Office has also asked PPI providers to openly tell customers that they can shop around for PPI cover from other providers.

The bold move comes in the wake of the Post Office launching its own PPI product – Lifestyle Protection. The new insurance is designed as a stand-alone product which covers the repayments of finance taken out with other organizations.

However, despite the obvious self-serving aspect to the mail deliverer’s move, consumer advice agency Which? has welcomed the development for aiding in the process of consumer education.