Motor market faces OFT investigation
The Office of Fair Trading (OFT) has launched an investigation into the private motor market following the sharp increase in premiums over the last 12 months.
The OFT has called on the market to provide it with information regarding the role of price comparison sites; the provision of credit hire replacement vehicles to drivers who are involved in accidents that are not their fault; insurance companies' use of panels of approved repairers; and ancillary products that are sold by insurance companies in addition to standard motor insurance cover.
The investigation comes following a rise in motor premiums to as much as 40% and the OFT has said it wants
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