Sonya Branch from the Office of Fair Trading
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Car insurance market not working efficiently says OFT

Sonya Branch from the Office of Fair Trading (OFT) says drivers have little control over the costs of insurance services and it could work more efficiently.

Car insurance costs are now set to be studied by the Competition Commission after the OFT said the market was "dysfunctional".

The OFT says artificially high car hire and repair charges add £225m a year to drivers' premiums and it wants the commission to investigate the sector.

The OFT's announcement was welcomed by the Association of British Insurers

  • 31 May 2012