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The OFT has requested evidence that relates to the UK private motor insurance industry to assess in more detail recent reports of rising UK private motor insurance premiums, the reasons behind any increase (reported to be up to 40 per cent for annual comprehensive insurance) and consider whether further work may be necessary to improve the way the market works
The UK Office of Fair Trading (OFT) has announced that it intends to close a competition investigation into information exchange between motor insurers, following formal commitments from the companies concerned to limit the exchange of information on individual pricing strategies
OFT has announced that it is seeking commitments from a number of companies involved in the provision of motor insurance to terminate anti-competitive practices as to the exchange of broker pricing information through a product offered by Experian and SSP Limited, called Whatif? Private Motor
In a January 13, 2011 press release, the UK competition regulator the Office of Fair Trading ("OFT") announced that a number of leading UK insurers and two IT software and service providers have provisionally agreed to limit the data that they exchange in relation to motor insurance premiums
