Industry News from Yes Insurance

Motoring dealerships across the UK have been warned to ensure they are offering payment protection insurance (PPI) in the correct, legal sense.

According to the RMI National Franchise Dealers Association (NFDA), the Financial Services Authority (FSA) is to hand out heavy fines to firms who do not manage this.

It added that motorists who require advice over PPI deals should contact the NDFA for more information, stating that the rules are often more stringent than when selling other products.

Drivers who pick up cheap PPI deals could find that they have more money with which to take out a thorough car insurance policy.

"The NFDA is working with the FSA to ensure that the regulations are as effective as possible, and that they benefit businesses and consumers alike," said NFDA official Sue Robinson.

Price comparison website uSwitch.com recently claimed that some £168 million is to be spent on car finance for vehicles with 58 number plates this year.

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