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UK Creditor Insurance 2011
Datamonitor, June 2011, Pages: 97
This report is an in-depth analysis of the UK creditor insurance market in 2010, showing estimates for market size and growth by product line. The report also explores new regulations which are set to change the market and forecasts GWP growth up to 2015. The report also includes key competitor data for 2009/10 and examines the latest product innovations.
Features and benefits:
- Gain a broad and deep knowledge of the creditor insurance market, its competitive landscape and the key drivers of change.
- Plan your future strategy using forecasts of the future growth of the creditor insurance market.
- Keep up to date with the latest regulatory developments taking place in the market and how they will affect your company.
Highlights
- The POS ban recommended by the CC will continue to depress penetration rates and claims for mis-sold PPI will grow throughout 2011–12. This report also looks at the estimated costs per company of implementing these reforms and the effect they will have on each PPI product.
- The remaining PPI distributors have suffered the perfect storm from regulation, redress costs, and the recession and the next few years will be challenging. However once stability returns a steady growth is possible.
- 2009-10 has seen huge upheaval in the PPI market; many larger companies like Barclays, Lloyds banking group and Nationwide have stopped selling most or all PPI products. Many of the leading insurers are now looking to alternatives such as income protection products as their growth drivers in this area.
Your key questions answered
- What is the size of the creditor insurance market?
- Who is pulling out of the PPI market?
- How are new regulations affecting the market?
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