Hammering down loss adjusters on fees proved a false economy for insurers as falling service standards merely wreaked more havoc on the industry’s reputation. But sense has prevailed and the two sectors are showing signs of a welcome reconciliation. Download Post's article to find out more.
The CMA has carried out a fact-finding project to understand how consumer data is being collected and used commercially. The CMA commissioned research into data collection and use in three illustrative case study sectors – motor insurance, clothing retailing and games apps.
General insurers including Ageas, Aviva, Direct Line, Axa and LV reflect on a year that started with immense flood claims, saw the Competition and Markets Authority’s final report into motor insurance and ended with a warning by the regulator on the use of reserve releases.
The Competition and Markets Authority report on the private motor market was met with criticism over its lack of action on credit hire practices. So what action can the industry take?
With the motor sector in agreement that the dysfunctional subrogation process is in need of repair, will Competition Commission action resolve the situation? And how can insurers help themselves? Download Edward Murray's article to find out.
In 2012, the OFT referred the supply or acquisition of private motor insurance and related goods or services in the UK to the Competition Commission for investigation and report. Download this report for insights into the Competition Commission's provisional findings.
Private motor insurance: Report on the market study and proposed decision to make a market investigation reference - May 2012
This market study launched following a call for evidence on the UK private motor insurance market. The information gathered gave the OFT reasonable grounds for suspecting that there are features of the UK market for private motor insurance that are preventing, restricting or distorting competition.