'Spurious' providers threaten PPI inquiry

clock •

An investigation into payment protection insurance (PPI) is in danger of being hijacked at the last minute, according to insurance specialist Burgesses.

The firm says providers continue to offer “spurious” explanations of why they charge single premiums and refuse pro rata rebates. As part of its inquiry into payment protection, the Competition Commission (CC) found consumers pay more than £1.4bn a year too much for PPI because finance providers in the £5.4bn market fail to compete properly. Burgesses’ director, Sara-Ann Burgess, says it is “imperative” the CC does not give “disproportional weight” to the comments of providers that do not have consumers’ best interests at heart. The CC has asked for further information from the market b...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

FCA: Pure Protection Market Study does not give industry 'a clean bill of health'

FCA: Pure Protection Market Study does not give industry 'a clean bill of health'

Firms must still demonstrate fair value

Jaskeet Briah
clock 11 November 2026 • 2 min read
Budget 26: The protection and health impact

Budget 26: The protection and health impact

Protection industry reflects on missed opportunities

Cameron Roberts
clock 30 October 2026 • 5 min read
Is failing to protect a client's income an oversight or neglect?

Is failing to protect a client's income an oversight or neglect?

What happens to your financial plan if your ability to earn reduces or stops?

Kevin Carr
clock 29 October 2026 • 3 min read