Responses to OFT referral

Following the referral of the private motor insurance market to the Competition Commission, Nick Starling, ABI’s Director of General Insurance, responded, “The ABI welcomes the announcement on the referral of the credit hire and credit repair markets to the Competition Commission for investigation. We had called for this. For too long insurers have faced inflated rates for credit hire cars and excessive hire periods which have led to higher insurance premiums for customers.”