Monthly PPI refunds in the United Kingdom (UK) 2011-2019

Published by
Jennifer Rudden,
Feb 8, 2022
Payment protection insurance (PPI) provides coverage for cases in which the consumer struggles to service their debt. This includes unemployment, sickness, or other unforeseen circumstances. PPI is usually offered along with a loan and could be included in the original loan or as part of the repayment. Between 2011 and 2013, several insurance providers were fined because of the miss-selling of PPI. Since December 2019, approximately 33 billion British pounds were paid in refunds and compensations as a result of claims about the sale of PPI.

Monthly payment protection insurance (PPI) refunds and compensation in the United Kingdom (UK) from January 2011 to December 2019 (in million GBP)

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Source

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Release date

November 2020

Region

United Kingdom

Survey time period

January 2011 to December 2019

Supplementary notes

The source adds the following information: "The PPI redress figures for October, November and December 2014 were updated on 7 April 2015. The PPI redress figure for January 2016 was updated on 18 May 2016."

** "As of September 2015, these figures come from 23 firms making up 95% of complaints made about the sale of PPI."

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