It is the first year that non-mortgage lenders have been invited to enter the MFG Awards and testament to the strength of British Insurance’s products and ethos for ‘fair play’ that the independent firm was judged by industry experts to be ahead of leading banks and building societies.
Mortgage Finance Gazette Editor Jo Atkin comments: “British Insurance was ahead of the pack when it came to the breadth of cover, support services and competitiveness of its mortgage payment protection insurance and even before reading the TCF nomination, the judges were aware of the Company’s efforts to try and improve the reputation of PPI and ensure not all providers were tarred with the same ‘mis-selling brush’. This firm was a clear winner in both categories.”
The Awards are open to lenders and insurance providers in the mortgage sector and recognise those who can demonstrate excellence, innovation and competitiveness in 13 categories.
British Insurance has for years lobbied providers to address the PPI mis-selling issues that have been raised by the Competition Commission and Financial Services Authority and make mortgage payment protection more comprehensive and affordable.
Managing Director Simon Burgess has long-argued that those who are financially vulnerable should have access to low-cost insurance that pays the mortgage should redundancy, accident or sickness occur and recently broadened his portfolio to include cover for people in shared ownership agreements with Housing Associations or renting, plus those who give up work to care for a family member.
Burgess concludes: “I’m delighted to have my efforts recognised and will continue to press for change in the selling practices in this sector. There are those that say they treat customers fairly and those that do - this award underlines our commitment to actions, rather than words.”
