September 2007

This month's roundup of developments affecting the insurance industry includes the UK Competition Commission's Enquiry into PPI and the FSA's process guide on schemes of arrangement. Also in this issue, an AG briefing note on responsibilities of providers and distributors.

The UK Competition Commission's Enquiry into Payment Protection Insurance
The UK market for payment protection insurance (PPI) has come under fire. The Citizens Advice Bureau made a super-complaint to the Office of Fair Trading (OFT) about the unfairness of the current non-store cards related PPI offered to non-business customers in the UK. Having concluded that it had reasonable grounds to believe that certain features of PPI could prevent, restrict or distort competition, the OFT referred its enquiry to the Competition Commission in February this year.

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