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Now, as I understood it; Insurance is designed to ensure that something lost or damaged is covered, be it your job, your mobie phone or your car. And for this reassurance and expert service, you pay a premium, fair enough – that’s how the economy ticks over.

So why then, do Payment Protection Insurance (PPI) firms; insist on mis-selling cover, refuse to provide unemployment-only cover and increase their premiums by up to 40%? I mean, come on – consumers are acting responsibly by trying to ensure their bills are paid if they lose their job and PPI insurers are offering inappropriate cover at high prices or none at all.

According to the Association of British Insurers, over 20,000 PPI unemployment claims were received in 2008 – an increase of 200% on 2007. This number will no doubt rise in line with unemployment, resulting in even higher PPI claim numbers, more unsupported customers and more debt.

Media reports say the cost of protecting a typical £750 mortgage repayment has risen from £37.50 to £50 per month, making it harder for people to protect their mortgage payments, secure their home and keep a roof over their heads.

Banks rising prices for financial support – don’t they know there’s a recession on? – I guess you don’t have to worry about these things when you’re getting multi-billion ££££ bail-outs from the tax-payer.

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