In considering complaints, we take into account the relevant regulatory, legal and other standards of the time of the sale. We have set out in detail in ombudsman decisions (available on our online PPI resource) the considerations that are likely to be relevant. Our online PPI resource lists relevant regulatory rules and codes.
Overall, in assessing a case, we normally need to consider whether:
- the financial business that sold the PPI gave the consumer information that was clear, fair and not misleading - in order to put the consumer in a position where they could make an informed choice about the transaction that they were entering into and the insurance that they were buying; and
- whether in giving any advice or recommendation, the financial business took adequate steps to ensure that the product it recommended was suitable for that consumer's needs.
Taking account of these considerations, the ombudsman needs to reach a fair and reasonable conclusion in all the circumstances of the case.
There is more information about this in the section of our website our approach to payment protection insurance (PPI) mis-sale complaints.