OFT Refers Private Motor Insurance Market to CC
The Competition Commission (CC) is to carry out an investigation into the UK’s private motor insurance market.
The Office of Fair Trading (OFT) announced its decision to refer on Friday 28 September.
The CC will now carry out its own comprehensive investigation to see if there are any features of this market which prevent, restrict or distort competition and, if so, what action might be taken to remedy them.
The CC is required to produce its final report by 27 September 2014.
The CC will shortly appoint members to its Inquiry Group and in due course will publish a timetable setting out a schedule for the various stages of its investigation.
Any interested party is invited to provide the CC with a summary of its views by 15 October 2012.