CMA publishes final motor insurance order
The CMA has published a final order, which sets out how changes resulting from its investigation into private motor insurance will be introduced and monitored.
In September last year, the Competition and Markets Authority (CMA) published its final report into the private motor insurance market which said that it would:
- ban agreements between price comparison websites (PCWs) and insurers which stop insurers from making their products available more cheaply on other online platforms
- ensure there was better information for consumers on the costs and benefits of no-claims bonus protection
The CMA published the initial draft order for consultation in January 2015 and, following responses received to that publication, consulted on a modified order last month.
The order specifies that the ban on ‘price parity’ agreements between PCWs and insurers will come into force in one month’s time (19 April) while the remedy giving consumers better information on no-claims bonus protection must be implemented by August 2016.
The final order and all other information relating to the investigation can be found on the investigation case page.