Insurers body the Association of British Insurers (ABI) has welcomed the review, claiming that the O

The OFT produced a report on the 9.4bn market in May, branding it "dysfunctional". Now after public consultation the OFT has decided to make the referral to the Competition Commission, which will have two years to make its report.
Insurers body the Association of British Insurers (ABI) has welcomed the review, claiming that the OFT has discovered what insurers have known for years that when a customer has a crash that is their fault, the insurer has little control over the cost of the subsequent claim.
"In particular, for too long insurers have faced inflated cubs tickets wrigley field rates for credit hire cars and excessive hire periods, cubs tickets wrigley field which have led to higher insurance premiums for customers," ABI director of general insurance Nick Starling cubs tickets wrigley field claims.
Regulation of all players cubs tickets wrigley field in the market to tackle excessive costs is needed, and we look forward to working with the Competition Commission to bring much needed reforms to the market that will, in turn, result in lower car insurance premiums for consumers, he adds.
The British cubs tickets wrigley field Vehicle Rental and Leasing Association has also welcomed the referral saying that the increasing cost of compulsory motor insurance is the biggest threat to the profitability and sustainability of the vehicle rental industry.
However the BVRLA also says that it should not be necessary for politicians and the OFT have had to get involved to improve the competition in the sector, which could have got its own house in order.
"A credit hire organisation will simply provide a car for as long as one is needed to help the not-at-fault car owner. One solution could be to provide a courtesy car as standard for all policy holders."
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