Access key links:

From 1 April 2014 the Competition Commission is abolished and its functions transferred to the Competition and Markets Authority (CMA). There will be no further updates to this website after 31 March.

The Competition and Markets Authority (CMA) brings together the Competition Commission (CC) and the competition and certain consumer functions of the OFT. The CMA takes on its full powers and responsibilities on 1 April 2014.

Payment Protection Insurance market investigation

Date of referral: 07.02.07        Statutory deadline: 06.02.09

Date of remittal: 26.11.09        Statutory deadline: The Tribunal did not set a deadline

Final report and Appendices & Glossary

Date published: 29.01.09

Final report
Final report (PDF, 3.0 Mb) 
Differences between the web and printed versions of the PPI Final report (PDF, 97 Kb) 


Appendices & Glossary
(The numbering of the appendices indicates the chapters to which they relate.)
Appendix 1.1: Terms of reference (PDF, 100 Kb) 
Appendix 1.2: The Citizens Advice super-complaint (PDF, 109 Kb) 
Appendix 1.3: Conduct of the CC investigation (PDF, 94 Kb) 
Appendix 2.1: PPI policies—characteristics (PDF, 266 Kb) 
Appendix 2.2: Characteristics of PPI for different credit products (PDF, 130 Kb) 
Appendix 2.3: Short-term income protection—is it a form of PPI? (PDF, 429 Kb) 
Appendix 2.4: PPI and its alternatives (PDF, 170 Kb) 
Appendix 2.5: PPI and regulation (PDF, 284 Kb) 
Appendix 2.6: Characteristics of consumers of PPI (PDF, 205 Kb) 
Appendix 2.7: Company synopses (PDF, 375 Kb) 
Appendix 2.8: Parties that have provided evidence during the course of our investigation (PDF, 109 Kb) 
Appendix 2.9: PPI value chain (PDF, 195 Kb) 
Appendix 2.10: Advantages of single-premium PPI policies (PDF, 120 Kb) 
Appendix 3.1: Evidence for market definition (PDF, 272 Kb) 
Appendix 3.2: Analysis of PPI price increases for MPPI, PLPPI and CCPPI (PDF, 607 Kb) 
Appendix 3.3: Analysis of PPI price increases: methodology and results (PDF, 1.8 Mb) 
Appendix 3.4: Evidence on the extent of PPI search (PDF, 307 Kb) 
Appendix 3.5: The role of intermediaries in the sale of MPPI (PDF, 224 Kb) 
Appendix 3.6: The extent of competitive constraint placed on PPI by alternative types of insurance products (PDF, 104 Kb) 
Appendix 3.7: Complementary goods and market definition (PDF, 199 Kb) 
Appendix 3.8: Use of price comparison websites (PDF, 515 Kb) 
Appendix 3.9: Implications of CC GfK NOP 2008 in-home survey results for downstream market definition (PDF, 233 Kb) 
Appendix 4.1: Evidence from the parties regarding the variation in PPI prices from 2002 to 2006 (PDF, 105 Kb) 
Appendix 4.2: PPI price dispersion (PDF, 245 Kb) 
Appendix 4.3: Evidence of switching of PPI-credit combinations and stand-alone PPI (PDF, 420 Kb) 
Appendix 4.4: The profitability of PPI distribution (PDF, 1.1 Mb) 
Appendix 4.5: The profitability of PPI and credit combined and the influence of PPI income on lending policy (PDF, 434 Kb) 
Appendix 5.1: Barriers and benefits to search (PDF, 863 Kb) 
Appendix 5.2: Switching costs for single-premium policies (PDF, 662 Kb) 
Appendix 5.3: Barriers to entry and expansion (PDF, 305 Kb) 
Appendix 7.1: Competition in the underwriting market (PDF, 342 Kb) 
Appendix 8.1: Vertical integration (PDF, 335 Kb) 
Appendix 10.1: A personal PPI quote for PLPPI, SMPPI or MPPI (PDF, 160 Kb) 
Appendix 10.2: An annual statement for PLPPI, SMPPI or MPPI from the credit provider (PDF, 185 Kb) 
Appendix 10.3: Switching costs for single-premium policies with pro-rata rebates (PDF, 231 Kb) 
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 (PDF, 406 Kb) 
Appendix 10.5: Claims profile for 36-month PLPPI and 60-month PLPPI and SMPPI policies (PDF, 540 Kb) 
Appendix 10.6: The impairment experience of insured and non-insured credit customers (PDF, 626 Kb) 
Appendix 10.7: Evidence from the distributors of possible waterbed effects on credit prices (PDF, 173 Kb) 
Appendix 10.8: Analysis of price changes (PDF, 109 Kb) 
Appendix 10.9: Simulating the effects of remedies to address a secondary market monopoly—methodology (PDF, 157 Kb) 
Appendix 10.10: Comparison of the effects of system and non-system remedies (PDF, 133 Kb) 
Appendix 10.11: Results of modelling exercise (PDF, 230 Kb) 
Appendix 10.12: Cost estimates by party (PDF, 208 Kb) 
Appendix 10.13: Cost estimates (PDF, 126 Kb) 
Glossary (PDF, 232 Kb) 
  • Print this page


CC rules, guidance and best practice guides