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OFT report - ABI calls for action on legal costs

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The Association of British Insurers has welcomed the Office of Fair Trading's recognition of the insurance industry's efforts in its reveiw into the competitiveness of the liability insurance market but called for moves to reduce the level of legal and other transactional costs. It also welcomed the call to address ATE issues.

Nick Starling, ABI director of general insurance said in a statement: "We are pleased that the OFT has recognised steps the industry is taking to help stabilise the liability markets."However, to

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