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Probe into £2bn a year motor claims market by OFT


A probe into £2billion worth a year of car insurance claims has been launched by Watchdogs.
An alarm about a surge in premiums, which have shot up more than 20% since 2009 has led to the Office of Fair Trading’s investigation
A jump in personal injury claims and fraud has been termed as the cause by insurers. After an accident, the OFT’s “market study” is looking at hefty bills from garages and car-hire firms.
If, after a crash, one of the drivers accepts blame (or they are proved at fault) their insurer normally pays the other person’s repair bill, and often the cost of a courtesy car while their vehicle is in the garage.
However, according to the OFT it’s possible insurers are being hit with over-the-top claims for both.

No Win, No Fee policy is valid in all instances except in MIB and CICA claims.
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