Malcolm Tarling from the Association of British Insurers
Media playback is unsupported on your device
Video

Motor insurers 'hit by unnecessary costs'

The Office of Fair Trading (OFT) has said it will look into recent reports of rising UK motor insurance premiums.

Malcolm Tarling, from the Association of British Insurers, said companies are being hit by a "triple whammy of unnecessary costs" such as compensation claims, fraud and uninsured drivers.

He dismissed claims that insurers are simply trying to 'fleece honest motorists' and said they want to provide value for money insurance.

Go to next video: Millions waiting for PPI payout