OFT launches study into PPI
The OFT has today launched a market study to look in depth at the payment protection insurance sector. The study follows a super-complaint from Citizens Advice (CitA) to which OFT responded on 8 December 2005.
Around 6.5 to 7.5 million PPI policies are taken out each year generating premium income estimated in 2003 at £5.4billion. The OFT response to the super-complaint identified a number of issues which
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