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Barclays PLC Claims Ratios

Barclays PLC Claims Ratios

The following table contains information from Barclays PLC as required by the PPI Market Investigation Order 2011 ('the Order').

Note: The Claims Ratio is:

  • For the preceding year (as required by the Order) – for Barclays PLC, this is 1 January 2016 to 31 December 2016
  • Published in 10% bands (as per the Order), and
  • The ratio of incurred claims to earned premiums during a business year

Please refer to the key underneath the table, which explains the product categories (PLPPI etc).

Claim ratios
(% in business year)

Barclays Bank PLC

PLPPI

Less than 0%

SMPPI

Not sold

MPPI

30% to 40%

CCPPI

0% to 10%

Retail

Not sold

Stand-alone PPI

Not sold

Short-term IP

50% to 60%

Key: explanations are taken from the Order

PLPPI means PPI taken out to enable a policyholder to protect the ability to make payments due for a personal loan.

SMPPI means PPI taken out to enable a policyholder to protect the ability to make payments due for credit where the obligation to repay is secured by a second or lower-ranking mortgage.

MPPI means PPI taken out to enable a policyholder to protect the ability to make payments due on a first mortgage.

CCPPI means PPI taken out to enable a policyholder to protect the ability to make payments due on a credit card.

Stand-alone PPI means either:

(a) any PPI product type or short-term IP that is provided by a PPI provider that is not the credit provider or the credit arranger or an associate
(b) any PPI product type or short-term IP provided in the circumstances set out on Article 8.5 of the Order

Short Term IP means a contract of insurance that provides a pre-agreed amount directly to the policyholder or the policyholder’s nominee in the event the policyholder experiences involuntary unemployment or incapacity as a result of accident or sickness and that:

a) Has a maximum time limited benefit duration
b) May include or combine other forms of insurance cover or include other benefits
c) Is written for a term which is less than 5 years and not predetermined by the term of any credit
d) Can be terminated by the insurer

Additional information

1. The PLPPI claims ratio for Barclays Bank PLC is negative due to the release of claims reserves.

This information belongs to Barclays PLC and must not be reproduced or used without the express permission from Barclays in writing.