Payment protection insurance (PPI) market investigation reference (OFT)

The Office of Fair Trading (OFT) referred the PPI market to the Competition Commission (CC) for investigation.

Action before reference

The OFT carried out a market study into PPI.

See the PPI super-complaint that led to the market study

Reason for reference

Date of reference: 7 February 2007

The OFT has referred the Payment Protection Insurance (PPI) market to the Competition Commission (CC) for investigation. This decision comes after a period of public consultation, which follows the OFT's earlier proposal to refer the PPI market to the CC on 19 October 2006 following a market study.

The evidence presented to the OFT during the consultation period has not altered the concern that the following features of the PPI could have an adverse effect on competition. These are structural features, conduct of firms and conduct of consumers. The OFT consider that the supply of all payment protection insurance services to non-business customers in the United Kingdom should be referred for the CC's investigation with the exception of store card payment protection insurance services.

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