Insurance comparison site ComparetheMarket has been issued with a “statement of objections” by the Competition and Markets Authority (CMA) after an investigation found that clauses in many of ComparetheMarket’s contracts with home insurers break competition law and could lead to higher premiums.
The CMA has provisionally found that ComparetheMarket’s so-called “most favored nation” clauses, which prevent home insurers from quoting lower prices on rival comparison sites and other distribution channels, could lead to customers missing out on cheaper premiums.
According to the CMA, the clauses block fair market competition and also make it more likely that insurance companies have to pay higher commission rates to comparison sites, with the extra costs potentially impacting end-consumers.
Full Content: Insurance Age
Featured News
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Italian Antitrust Authority Fines Amazon €10 Million for Unfair Trade Practices
Apr 24, 2024 by
CPI
Tuta Mail Raises Alarm Over Google Search Ranking Plunge Amidst DMA Rollout
Apr 24, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI