Motorists will welcome the prospect of an investigation into the car insurance market after years of spiralling premiums.
The Office of Fair Trading has found worrying evidence that drivers are being taken advantage of by parts of the insurance industry, who are exploiting the lack of control on costs in the market.
As a result hard pressed families, who are already facing a cost of living crisis and the effects of a recession made in Downing Street, are seeing insurance premiums being pushed up by £225 million a year.
– MARIA EAGLE MP, SHADOW TRANSPORT SECRETARY
The Office of Fair Trading (OFT) is to refer the private motor insurance market to the Competition Commission for practices that, it claims, drive up the cost of premiums.