Start date: 14 December 2011
End date: May 2012
The OFT has launched a market study into the supply of private motor insurance in the UK, with a specific focus on credit vehicle hire companies and insurers' repairer networks. This follows the completion of a three month call for evidence on the market.
The evidence that the OFT gathered during its call for evidence on both credit vehicle hire and insurers' repairer networks gives us reasonable grounds for suspecting that there are features of the market for the supply of private motor insurance in the UK are restricting and/or distorting competition.
On the basis of the evidence we have gathered to date, we suspect that these features are increasing costs across the market and the OFT is carrying out this market study to gather further evidence before it consults as to whether or not to make a market investigation reference to the Competition Commission. In particular, we hope to clarify whether the scale of the problem is sufficient to warrant exercising our discretion to make an MIR and whether it would be more appropriate to address competition issues by way of an MIR or by other action by OFT or others, such as regulatory bodies. The OFT will also consider the other criteria identified in its Market Investigation Reference guidance in relation to the exercise of its discretion to make a reference.
Team leader: Jon Riley (020 7211 8143 jon.riley@oft.gsi.gov.uk)
Project director: Claire Hart (020 7211 8782 claire.hart@oft.gsi.gov.uk)
Senior responsible officer: Sonya Branch (020 7211 8707 sonya.branch@oft.gsi.gov.uk)
Any media enquiries should be directed to a member of our Press Office.
Back to: Markets work
This feature requires Javascript and Cookies to be enabled on your browser
Register for email alerts or amend your existing account details here.