Payment protection insurance related customer complaints in the UK 2009/10-2021/22

Published by Jennifer Rudden, Sep 24, 2024
The number of new payment protection insurance-related complaints in the United Kingdom fell to a decade-long low in FY 2021/22 when there were approximately 5,400 complaints made to the Financial Ombudsman. In FY 2021/22, only 5,369 complains were filed for PPI-related issues down from almost 400,000 complaints in FY 2012/13. The volume of these complaints began to drop after a law was passed to prohibit claims being submitted for PPI after August 29, 2019.

Number of complaints regarding payment protection insurance (PPI) submitted to the Financial Ombudsman in the United Kingdom (UK) from FY 2009/10 to FY 2021/22

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Release date

June 2022

Region

United Kingdom

Survey time period

FY 2009/10 to FY 2021/22

Special properties

Financial year ending 31st of March

Supplementary notes

Payment protection insurance (PPI) is also known as credit protection insurance or loan repayment insurance. This instrument enables to insure the repayment of loans even in the case of borrower's disability, illness or death.
Figures for previous years were obtained from previous reports by the source.

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