Ceta and Cardif Pinnacle have collaborated on a new mortgage payment protection insurance (MPPI) policy.
Ceta's managing director, David Quick, was confident the policy will address the recent concerns raised about MPPI misselling.
Quick said: “Our new policy is benefits rather than costs led. After scouring the market for a suitable partner, we chose Cardif Pinnacle because of its expertise in creditor insurance and it also has a high claims pay-out ratio.
“But its main strength is that it has an enviable track record of helping people to get back into work after illness or unemployment.
"Most importantly it will give our members the confidence to move back into the MPPI market and allow them to meet the needs of customers who want peace of mind that their mortgages will be paid if they become ill or lose their jobs.”
Ceta is making the policy available to its network of 16,000 brokers and intermediaries. Premiums start at £2.20 for £100 of cover.
