AJAG response to OFT Motor Insurance market study
The Access to Justice Action Group welcomes the OFT report into the cost of car insurance.
The report has confirmed there is a lot more to the story than the cost of road accident claims.
In particular, we note the OFT has agreed with our submissions, that premiums actually paid have not risen nearly as much as the insurance industry claimed; that motor legal protection cover (Before the Event Insurance) is poor value for money; and that arrangements for credit hire and vehicle repairs raise serious competition issues.
Andrew Dismore of the Access to Justice Action Group, which campaigns for fairness to compensation claimants, says:
“The terms of reference for the inquiry excluded a review of the impact of accident cases on premiums. The Government is legislating on this matter in an evidential vacuum and such research would have been invaluable.
“We believe it would have confirmed our view that the legislation before Parliament is based on one sided, untested and inaccurate assertions from the insurance industry and does not reflect properly scrutinised, evidence based policy.”
Article by AJAG - click on the link to see related OFT documents: http://www.accesstojusticeactiongroup.co.uk/home/latest-news/ajag-response-to-oft-motor-insurance-market-study
