OFT takes motor stand and calls in Competition Commission
The Office of Fair Trading (OFT) has referred the UK's private motor insurance market to the Competition Commission over concerns the market may ‘prevent, restrict or distort' competition.
It comes after the OFT provisionally referred the market to the commission in May following a study which provided ‘reasonable grounds' the market was failing motorists.
This study found that insurers of ‘at-fault drivers' appear to have little control over repairs and replacement vehicles laid on for ‘not-at-fault' drivers.
The OFT warned this may encourage the insurers of ‘not-at-fault' drivers, their brokers, credit hire organisations and repairs to "engage in practices" which will inflate
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