Payment protection insurance (PPI) can play an important role in protecting consumers, a leading industry body has claimed.

The Association of Mortgage Intermediaries (AMI) recently gave "oral evidence" to the Competition Commission as part of its ongoing inquiry into payment protection insurance (PPI). It said that PPI was an "important" protection tool for mortgagees in the UK, adding that it was only one of a number of products that mortgage intermediaries consider when advising their clients.

"Mortgage PPI can be part of the solution to a consumer's protection requirements. However, an intermediary will only consider MPPI as one of a suite of potential products," Chris Cummings, director-general of AMI, said.

"Good advice begins with an assessment of the consumer's attitude to risk together with a review of personal and family assets that can be called on if necessary. It includes an assessment of any employer's scheme. An independent intermediary can also explain MPPI's context within other protection products.

"We support the view that PPI should be de-linked from any credit arrangement. It should be clear to the consumer that access to the credit is not conditional on buying PPI."

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