General Insurance Article - Aviva statement on OFT referral to Competition Commission

 Following the publication of the Office of Fair Trading Private Motor Insurance Market Study today, please see below position from Aviva:

 "The referral of the credit hire and credit repair markets to the Competition Commission for investigation is a welcome step - credit hire and repair have been a source of excessive costs which do not benefit insurers or consumers. We have been calling for significant reform of these markets for many years to reduce claims costs.

 "As the OFT says, there is no "quick fix" and it is our hope that the Competition Commission will bring fundamental reform which will help reduce cost pressures - and therefore premiums - for our customers.

 "We would also like to see the ban on referral fees that will apply from next April to include credit hire firms."