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ABI response to CMA announcement on comparison websites

Commenting on today’s update from the Competition and Markets Authority (CMA) regarding ground rules for price comparison websites and one further area of investigation, James Bridge, Head of Conduct Regulation at the James BridgeAssociation of British Insurers, said:

“Insurance is a very competitive market and price comparison websites can help consumers shop around for a good deal. However as we said in our submission to the CMA, we would like to see the rules tightened on price comparison websites using contracts which restrict the prices insurers can offer to customers elsewhere – known as Most Favoured Nation clauses. It is good to see the CMA investigating this issue further and we welcome their new ground rules which should improve consistency of standards.”

Last updated 26/09/2017