It is encouraging that the Competition Commission (CC) has not yet identified any competition concerns in respect of its investigation into the payment protection insurance (PPI) market. It said so in a statement recently, which also laid out the issues it will examine when it looks at the £5.5bn market.
The commission is to consider both the sale of PPI by distributors to customers and the provision of PPI by insurers through distributors. In particular, it said it would also consider price competition between suppliers and any barriers to entry and expansion. This will form the basis to guide collection of evidence including the first round of hearings with interested parties that it will undertake from May to July this year. This market reference follows a super-complaint from Citizens Advice to the Office of Fair Trading (OFT). The Financial Services Authority (FSA) is also conduct...
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