The Competition and Market Authority (“CMA”) says comparison website, Comparethemarket, may be breaking the law by preventing firms from offering better deals. The regulator’s findings accuse one of the biggest comparison websites of “artificially inflating prices” for home insurance.
Andrea Coscelli, CMA Chief Executive, said:
“Over 20 million UK households have home insurance and more than 60% of new policies are found on price comparison sites. Therefore it’s crucial that these companies are able to offer customers their best possible deals.
Our investigation has provisionally found that ComparetheMarket has broken the law by preventing home insurers from offering lower prices elsewhere. This could result in people paying higher premiums than they need to.”
More detail here.