CMA proposes changes to the Payment Protection Insurance Market Investigation Order 2011

In the light of the implementation of IDD, the CMA is proposing to amend the Payment Protection Insurance Market Investigation Order 2011 (Order).

Currently, the Order requires PPI providers to send policyholders and Annual Review document, which contains specified information, including a policy summary.

The CMA proposes that the Order should mandate that the reference to policy summary in the required information will refer to the IPID.  This means that the providers of PPI policies in run-off, who might not otherwise be required to prepare an IPID for such policies, will now need to do so.

Responses to this proposal are invited by 13 December 2018.