The Chartered Insurance Institute is re-launching an enhanced learning package on payment protection insurance in light of recent investigations from the FSA.
The new package will provide an online assessment of knowledge of the product and will be available from early 2006.
The FSA was predominantly concerned with the poor disclosure of product and price details, failure to match customer circumstances to policy provisions and failure to access the affect of the additional costs of the insurance on the ability to repay credit liabilities.
CII director general Dr Alexander Scott says: “Our new learning package is a contribution to redressing failures in the standards of disclosure and selling practices for PPI. We advocate that all practitioners in this field make use of it. In particular, the managements of authorised firms should ensure a re-assessment of those engaged in selling PPI, using the CII learning solution, to help respond to public concern.”