Following discussions initiated by the FSA with trade bodies and some firms,
the industry has agreed to refund increases in premiums, and reverse any
reductions in cover, for customers who have experienced these changes to
their policy in 2009.
The FSA initiated discussions earlier this year because it was concerned that
customers with unemployment insurance were not being treated fairly.
Providers were increasing premiums and reducing cover at a time when rising
unemployment made it more likely that people would need to claim on the
product, which covers mortgage interest payments if holders are unable to
work through accident or illness, …
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