What is the Payment Protection Insurance? (PPI)

-PPI is Insurance that can Repay Debt should the Borrower be Unable to do so. The UK had little Competition in the PPI Market, Rejected Claims, and Selling's of Unnecessary Covers -CMA dished out Requirements for Firms in the PPI Market, like Providing Information about the Right to Cancel and Costs. -This was not to allow Mis-Selling and make Consumers more Rational with their Choice -Also it has Increased Competition, and the Successful Reclaims of Mis-Sold Insurance have Rose