CMA accuses Compare the Market of breaking competition law
Louise O’Shea, CEO at Confused.com said: “As the UK’s first comparison website, we were founded to act for consumer good and drive competition in the insurance market, and we welcome the CMA’s findings.
“The findings suggest customers are being denied cheaper prices due to Compare The Market’s most-favoured nation clauses. At Confused.com, we do not restrict insurers from offering a more competitive price through other comparison websites or channels. We believe in healthy competition as ultimately this is what will drive down prices for our customers. We support the CMA ruling against most favoured nation clauses in 2014 as it could result in prices being driven upwards.
“We welcome any further recommendations by the CMA in the interest of continuing to deliver fair and competitive prices to customers.”