CMA calls for price cap on vehicle replacement charges
Watchdog recommends changes to aggregator clauses for private motor insurance and urges FCA to investigate add-ons further.
The Competition and Markets Authority (CMA) has unveiled its proposed changes designed to increase competition in private motor insurance and reduce the cost of premiums for motorists.
The measures include a cap on the charges passed to the insurer of an at-fault driver in an accident for the cost of providing a replacement vehicle to the non-fault driver and better information for consumers about their rights following an accident.
It has also recommended a ban on price parity agreements
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