CMA fines ComparetheMarket £17.9m
The watchdog says the comparison website breached competition law by using clauses prohibiting home insurers to offer lower prices on other aggregator sites, resulting in higher premiums.
The Competition and Markets Authority (CMA) has fined ComparetheMarket £17.9m after an investigation found that clauses used in the company’s contracts with home insurers breached competition law.
The competition watchdog stated that the price comparison website had imposed wide ‘most favoured nation’ clauses on providers of home insurance selling through its platform, which it noted was against competition law.
The CMA detailed that the breaches took place between December 2015 and December
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