The Competition and Markets Authority (CMA) has provisionally found that clauses in many of Compare the Market’s contracts with home insurers break competition law and could lead to higher premiums for customers.
The body said it has investigated clauses, known as ‘most favoured nation clauses, used by the comparison site in its contracts which stop home insurers from quoting lower prices on rival sites and other channels.
The investigation began in September 2017.
- Three insurance firms on FSCS insolvency list
- Blanc expects Goldman Sachs to invest in Aston Lark for 'at least five years'
- Aston Lark confirms Goldman Sachs investment deal
- Gibraltar insurer, Lamp, goes into liquidation amid insolvency
- Aviva continues to top Brokerbility members survey
- Aspen Risk Management to be placed in runoff
- Investors value Ardonagh at £1.9bn