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17/12/2013
Competition Commission Criticises Motor Insurance Industry
The Competition Commission has made a number of recommended revisions to the motor insurance industry following a year long review at the request of the Office of Fair Trading (OFT).
The commission described premiums as "unnecessarily high" for all drivers due to the complex chain of claims, blaming the cost of courtesy cars and repairs.
The commission added that it found post-accident repairs to be "often shoddy".
The Competition Commission agreed with the OFT that the motor insurance system was "not working well for motorists".
It is understood that the commission is now considering compulsory audits of post-accident repair work.
(MH/CD)
The commission described premiums as "unnecessarily high" for all drivers due to the complex chain of claims, blaming the cost of courtesy cars and repairs.
The commission added that it found post-accident repairs to be "often shoddy".
The Competition Commission agreed with the OFT that the motor insurance system was "not working well for motorists".
It is understood that the commission is now considering compulsory audits of post-accident repair work.
(MH/CD)
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