Payment protection insurance (PPI)

Final report, published 29.01.09

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Report

• Full text of report
• Differences between the web and printed versions of the PPI Final Report

Appendices

• Appendix 1.1: Terms of reference
• Appendix 1.2: The Citizens Advice super-complaint
• Appendix 1.3: Conduct of the CC investigation
• Appendix 2.1: PPI policies - characteristics
• Appendix 2.2: Characteristics of PPI for different credit products
• Appendix 2.3: Short-term income protection—is it a form of PPI?
• Appendix 2.4: PPI and its alternatives
• Appendix 2.5: PPI and regulation
• Appendix 2.6: Characteristics of consumers of PPI
• Appendix 2.7: Company synopses
• Appendix 2.8: Parties that have provided evidence during the course of our investigation
• Appendix 2.9: PPI value chain
• Appendix 2.10: Advantages of single-premium PPI policies
• Appendix 3.1: Evidence for market definition
• Appendix 3.2: Analysis of PPI price increases for MPPI, PLPPI and CCPPI
• Appendix 3.3: Analysis of PPI price increases: methodology and results
• Appendix 3.4: Evidence on the extent of PPI search
• Appendix 3.5: The role of intermediaries in the sale of MPPI
• Appendix 3.6: The extent of competitive constraint placed on PPI by alternative types of insurance products
• Appendix 3.7: Complementary goods and market definition
• Appendix 3.8: Use of price comparison websites
• Appendix 3.9: Implications of CC GfK NOP 2008 in-home survey results for downstream market definition
• Appendix 4.1: Evidence from the parties regarding the variation in PPI prices from 2002 to 2006
• Appendix 4.2: PPI price dispersion
• Appendix 4.3: Evidence of switching of PPI-credit combinations and stand-alone PPI
• Appendix 4.4: The profitability of PPI distribution
• Appendix 4.5: The profitability of PPI and credit combined and the influence of PPI income on lending policy
• Appendix 5.1: Barriers and benefits to search
• Appendix 5.2: Switching costs for single-premium policies
• Appendix 5.3: Barriers to entry and expansion
• Appendix 7.1: Competition in the underwriting market
• Appendix 8.1: Vertical integration
• Appendix 10.1: A personal PPI quote for PLPPI, SMPPI or MPPI
• Appendix 10.2: An annual statement for PLPPI, SMPPI or MPPI from the credit provider
• Appendix 10.3: Switching costs for single-premium policies with pro-rata rebates
• Appendix 10.4: A comparison of the price and quality of MPPI policies sold at
  the point of sale and on a stand-alone basis
• Appendix 10.5: Claims profile for 36-month PLPPI and 60-month PLPPI and SMPPI policies
• Appendix 10.6: The impairment experience of insured and non-insured credit customers
• Appendix 10.7: Evidence from the distributors of possible waterbed effects on credit prices
• Appendix 10.8: Analysis of price changes
• Appendix 10.9: Simulating the effects of remedies to address a secondary market monopoly - methodology
• Appendix 10.10: Comparison of the effects of system and non-system remedies
• Appendix 10.11: Results of modelling exercise
• Appendix 10.12: Cost estimates by party
• Appendix 10.13: Cost estimates
• Glossary