S&P expects motor investigation to have "small" impact
Standard and Poor's (S&P) expects that the Office of Fair Trading's (OFT) decision to refer the motor market to the Competition Commission will only have a "small" impact on insurers.
In September, the OFT took the decision to act amid concerns the market may ‘prevent, restrict or distort' competition.
However, the rating agency believes that if the commission rules against the industry, it will only serve to cause "reputational damage".
In its publication Legal and Regulatory Changes: A Help or a Hindrance to the UK Non-Life Insurance Market? S&P explained: "Although the uncertainty it creates can only be seen as a negative to the industry, in our view, if the commission
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