Brokers set to lose out after OFT motor decision

The Office of Fair Trading has confirmed that it will refer the UK motor market to the competition commission, an idea first put forward in May of this year.

The watchdog stated that it was making the move because research had shown that “insurers of at-fault drivers appear to have little control over the bills they must pay, and this may be leading to higher costs for them and ultimately higher premiums for motorists.” Most in the industry have welcomed the news, but there have been warnings