ABI welcomes launch of OFT motor investigation

The Association of British Insurers (ABI) has responded to the news of a further investigation into the UK motor market by insisting that insurers were committed to providing the best possible deal for customers.

The probe by the Office of Fair Trading (OFT) will look at the provision of third party vehicle repairs and credit hire replacement vehicles in the UK motor market with the OFT claiming there were features of the market that restricted and distorted competition.

Nick Starling, director of general insurance at the ABI, welcomed the OFT's report.

"We are particularly encouraged that the OFT recognise the highly competitive nature of the market and the scale of the personal injury problem facing