Compliance reports must be completed annually by payment protection insurance (PPI) providers, and returned to the Competition and Markets Authority (CMA), in accordance with Article 12 of the Payment Protection Market Investigation Order 2011.
This template should be used for submitting the report.
The PPI Order also obliges PPI providers to:
- provide information about PPI
- provide an annual review or annual reminder
- disclose claims ratios
- provide a personal PPI quote
- offer retail PPI separately when sold in a package of insurance
- offer rebates on terminated PPI policies when these are paid by annual premium
- conduct a mystery shopping exercise (only if PPI annual turnover exceeds £60 million)
- appoint a compliance officer
See earlier updates on this work on the archived Office of Fair Trading web page on PPI.