Increase In The Sale Of PPI
The ailing job market has caused a huge surge in the amount of payment protection policies that are being sold.
Due to the fact that such policies with high street lenders are causing consumers t be priced out of the market, far more people are turning to standalone PPI providers.
In fact, this is so much the case, that stand alone providers have seen a 50% increase in the amount of calls that they receive.
Figures published recently, have shown that less people are being recruited at current, and that the rate of recruitment is decreasing with greater rapidity, than it has done for seven years. This has sparked an increase in the amount of people looking to cover themselves in the event of losing their jobs.
The media is awash with reports about the credit crunch, and the winter of discontent being relived, so it is obvious that there are going to be a lot of scared people out there.
But this has not caused people to panic buy PPI, and it is refreshing that people are not just blindly going to financial institutions, and paying the largely inflated premiums that high street lenders like to charge people for their often Mis-Sold PPI policies. The independent payment protection companies are taking a lot of custom from the high street lenders, simply because their prices are realistic.
The British Chambers of Commerce, have come out with a prediction that the current economic slump is going to cause unemployment to increase by up to 300.000 in the next two to three years, and that total unemployment is going to reach 2 million. With statistics like this, it is no wonder that so many people are looking to cover themselves.