Following an FSA visit, this firm proactively took steps to improve its sales process and to source a PPI product that would better suit the needs of its customers. In the past, it had only offered its customers single-premium PPI policies that were provided by the lenders and were therefore specifically linked to the underlying credit product. The firm decided that single-premium PPI was not the best PPI product for its customer base. It subsequently approached an insurance provider to source a regular-premium product that it could offer its customers and replace the lender's own PPI product. Regular-premium PPI is now the only PPI product this.
