OFT's motor market stand is long overdue

Andrew Pearce

Following its "provisional" decision to refer the motor insurance market to the Competition Commission in May, the Office of Fair Trading (OFT) has finally acted decisively and pushed for a full investigation.

It followed an OFT study which basically unravelled what we already knew - that claims and expenses were sky high and have contributed to the huge underwriting losses racked up by motor insurers for almost a decade.

And in turn, these losses have been passed on to the insurer in the form o