CMA publishes motor insurance changes: CMA has set out its recommendations for change to improve the competition and pricing of motor insurance. Its key suggestions include:
- limiting the charges to insurers of at-fault drivers that relate to providing a replacement vehicle to the non-fault driver to make them more realistic;
- giving better information for consumers about their rights following an accident and on the costs and benefits of the no-claims bonus;
- banning price parity agreements between price comparison websites and insurers that stop insurers from making their products available to consumers elsewhere more cheaply; and
- recommending FCA looks at how insurers inform consumers about add-on products.
It asks for comments by 4 July. (Source: CMA Publishes Motor Insurance Changes)