Car insurance firm market probe
The Office of Fair Trading (OFT) is to refer the private motor insurance market to the Competition Commission for practices that, it claims, drive up the cost of premiums.
'Motor insurance firms rely on inflated car hire and repair costs'
Clare Francis, head of content at MoneySupermarket, has said that insurers are resorting to dysfunctional practices because they don't make any real profit on the policies they sell.
She advised drivers to "shop around" until the Competition Commission reaches a decision on such practices.
-
Anger as report reveals motor insurance costs
A road crash can have big financial impact - but new evidence suggests the insurance firms meant to protect us, are adding to the costs.
-
The motor insurance industry accused of rip-off
"Dysfunctional" practices in the motor insurance industry are pushing up premiums by £225 million a year, despite attempts to blame drivers