Report blames lack of competition for PPI 'scandal'

The Competition Commission (CC) report also suggests several measures it argues would improve the market for consumers, including banning a distributor’s right to sell PPI at the same time as another credit product, and introducing a price cap as a temporary measure to reduce prices. It is inviting comment on its suggestions The report say most of the UK’s 14 million PPI policies are sold at the same time a consumer takes out a loan, and argues consumers are unaware they can buy the products from other providers. It says this makes it difficult for other providers to reach these custome...