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ABI responds to OFT competition concerns

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The Association of British Insurance has responded after seven insurance companies and two IT software and service providers agreed to an Office of Fair Trading request to limit the data they exchange between them ain light of competition law concerns.

The ABI said: “As the OFT has made clear, it has not made a finding of an infringement of competition law today. We welcome the OFT’s proposal to consult on an approach that has been agreed with some

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FCA looking to address issues on claims definitions

Andrew Ruddle, the Financial Conduct Authority’s interim head of the department for insurance market analysis and policy, has said the regulator is looking at addressing issues about different claims definitions within insurance.

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