In the wake of the uprise in Payment Protection Insurance (PPI) claims, the British Insurance Broker’s Association (BIBA) has urged insurers and regulators to increase the amount of responsibility they put on their products, if they wish for them to be sold by non-professional brokers.

Many advisors have been put in a compromised position after numbers of individuals accused them of mis-selling PPI, when really they played no part in the matter. Regulators have also been warned to be quick on the draw in spotting problems and dealing with them in problematic areas.

Chief executive of BIBA, Eric Galbraith, said insurers must take even more responsibility if they wish to have their products sold by non-professionals and the regulator “…must be much quicker in spotting problems and taking action on issues of wider implications such as that of PPI.”

Sally Bowyer, Managing Director of leading claims firm, BrunelFranklin.com said: “We continue to see a huge increase in PPI refund applications as public awareness gradually rises. Cases of mis-selling are still coming to light; as people feel the financial squeeze and learn of the PPI refund successes of friends, family and colleagues, the upward trend in the number of people seeking refunds is likely to continue for the foreseeable future.”

Learn more about PPI refunds and find out if you could apply for a refund today! Visit the website www.brunelfranklin.com or call Brunel Franklin, free, on 0800 051 54 51.