The UK’s insurance market for auto insurance has been referred to the Competition Commission for investigation. The Office of Fair Trading (OFT), which made the referral, expressed concerns that the structure of the market resulted in excessive costs and that premiums were set at too high a level.
Of particular concern is the situation whereby the insurers of motorists, found to be “at fault,” for causing an accident have no control over the amount spent for repairs or replacement vehicles by “not-at-fault” drivers.
The OFT concluded after a preliminary investigation of the
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