Guidance

PPI Market Investigation Order 2011

The PPI Order imposes obligations and prohibitions on PPI providers who supply payment protection insurance to non-business customers.

Documents

PPI Market Investigation Order 2011

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PPI Order explanatory notes

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PPI Order Q&As

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Details of changes made to PPI Order Q&As

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Details

The PPI Order is designed to remedy the adverse effects on competition that the Competition Commission found in its inquiry into the sale of PPI in the UK.

The order prohibits:

  • the sale of PPI at the credit sale
  • the sale of PPI before the start of the credit sale
  • payment for PPI by single premium

The PPI Order also obliges PPI providers to submit annual compliance reports to the Competition and Markets Authority (CMA). The compliance reporting template should be used for submitting this report.

It also obliges 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 our collection of letters sent to companies about their non-compliance with the PPI Order.

Contact

Please direct all queries to Natalie Lam at the CMA.

Published 24 March 2011