The UK’s competition watchdog has launched a probe into Britain’s £2 billion (US$2.7 billion) funerals market amid fears that bereaved families are being ripped off, reported The Guardian.
The Competition and Markets Authority (CMA) plans to examine whether funeral directors are “clear enough” when explaining prices to often “very emotionally vulnerable” customers.
It will also look at whether the information provided by funeral directors on prices and services is too confusing for people to be able to choose the best option for them.
“Profit margins in the ‘at-need’ funeral market have been inflated for years,” says James Daley, managing director at consumer group Fairer Finance.
“Customers who buy funerals are grieving and have no idea what a fair price for a funeral is. And sadly they have proved far too easy to take advantage of. This market needs tighter regulation and better protections for consumers.”
Full Content: The Guardian