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Friday, 16 December 2011

OFT investigates private motor insurance market

Three months after it issued a call for evidence, the OFT has now launched a market investigation into the private motor insurance market. Details are on the website here. It will focus on credit vehicle hire companies and insurers' repairer networks, where it has reasonable grounds for believing that there are features of the market that distort or restrict competition, or both. Depending on what it finds, it might make a market investigation reference to the Competition Commission.

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