OFT refers PPI market to Competition Commission

The study, which was launched in April 2006, states there is evidence that how consumers purchase PPI products, their understanding of the product and the quality of information available to them hinders competition. It reveals consumers often do not shop around for the best deal on PPI and the complex nature of PPI makes comparison between different policies difficult. It also states consumers in some cases assumed, were told or given the impression that taking out the PPI would help the application for credit. It adds that although there may be competitive pressure operating at the top...