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PPI point of sale ban to include advisers

The Competition Commission has revealed that advisers and brokers are to be included in the proposed PPI point of sale ban.

Until now it had appeared that advisers would be exempt from the CC’s proposal to ban point-of-sale PPI and single-premium policies.

However, in its most recent PPI paper, released last week, the Commission says at the credit sale no intermediary can sell PPI at any point in this interview.

It also says no intermediary can charge on a single-premium basis, or include PPI in the primary credit agreement, or set up early termination fees.

The CC has stated that directly after a credit sale the customer can buy a PPI policy from any company other than the distributor or intermediary with whom the customer arranged credit, or any company recommended by that adviser.

Twenty four hours after the sale the customer can buy a PPI policy from any company or intermediary online or by telephone, then 14 days after the sale the customer can contact the intermediary.

Other remedies the Commission is “taking forward” include each provider offering detailed marketing material, comparative data, including penetration rates and aggregate claims ratio for each provider, and the issuance of an annual statement.

The statement says: “We expect that our remedies will include a transition period of no more than 12 months. The CC invites further views in writing on the application of the proposed remedies package to intermediaries by 5pm on January 7, 2009.”


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In Focus — May 2015: private medical insurance market in Germany

Welcome to the latest edition of In Focus. In this issue, Jelf examines the private medical insurance market for employers with expatriate workforces in Germany. This includes the common challenges faced in sourcing appropriate coverage, along with a selection of available solutions. This will be of particular interest to HR/reward decision makers with employees based in Germany. It will assess the cultural norms, risks and backdrop that are relevant to organisations with expatriate staff in this location.


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