Car insurance market faces probe

Thu, 05/31/2012 - 02:22 EDT - BBCNews

The car insurance industry is set to be scrutinised by the Competition Commission, after a provisional referral from the Office of Fair Trading.

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UK car insurance probe casts cloud over Direct Line IPO
LONDON (Reuters) - Britain's competition regulator will investigate the motor insurance market after a consumer watchdog found signs drivers are being overcharged, in a move that could dampen demand for the flotation of industry leader Direct Line. The Office of Fair Trading (OFT), Britain's main consumer affairs watchdog, said on Friday it had referred the industry to the Competition Commission for an inquiry that could take up to two years. The OFT said it had "reasonable grounds for suspecting that there are features of the market that prevent, restrict or distort competition". ...
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Car insurance market faces probe

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