CMA publishes letter sent to Cardif Pinnacle due to two breaches of the PPI Order

Article summary

The Competition and Markets Authority (CMA) has published a letter from its Director of Remedies, Business and Financial Analysis, Alistair Thompson, addressed to the General Counsel of Cardif Pinnacle. The letter is in relation to two breaches of the Payment Protection Insurance (PPI) Market Investigation Order 2011 (PPI Order) by Cardif Pinnacle. One is related to incorrect information in which 4,808 PPI customers received inaccurate Annual Reviews since 2021. The second breach was also due to inaccurate Annual Reviews, four customers receiving reviews where the Permanent Total Disablement cover was recorded as £0.01 rather than £10,000. According to the CMA, Cardif Pinnacle has ‘sent an apology letter to all impacted customers with the offer of a refund of premiums’.