OFT refers motor insurance industry to Competition Commission

gkazariah, Please, what message are you trying to relay? I can't make head or tail of it, not to mention the spelling!

i met an accident in dec-2011, i m in the non fault, a young lady droove in the 4 way signal where thereis no signal for her. it is all over including claimbs and repairs, at the end of my insurance the company i insured to refuse to renew my insurance because i involved in an accident, regardless of it is not my fault and i was paying £380/= per year with 8 years no claimbs bonus. now i am paying £800/= plus and most of the insurance comp. quoting even more than £1000/=, i dont understand the reality or leagality or even no any fairness. i am on my way, some one came and hit my car and made me to involve in this accident and now i ended up paying more than the double insurance. result still i am waiting to consult a surgen wether to go for a knee surgery or to leave it.on my right knee because of this accident.it is looks like the all favouring to insurance companies to play as they like.

There is no doubt that "cost loading" goes on not least by "injury claims" that are bogus and/or vastly inflated by people who see it as a way to make a few bob. But the insurance companies themselves have contributed to the problem aided and abetted by the Police who have taken “commissions” for referring potential claimants to “Injury Lawyers” and the like. Then there are the “Loss Adjusters” the insurance companies employ whose sole purpose is to cheat claimants out of as much money as they can. In every contact with an insurance company you are warned time and time again to provide full and truthful information or your policy could be void and you could be charged with fraud. Fair enough [B]but[/B] there is a practice that seems to be pretty much universal among insurance companies. If you have an incident, which you are obliged to report to your insurance company, they, despite there being no claim, reduce your No [B][I]Claims[/B][/I] Discount and try to charge you an inflated premium at renewal. They will try to tell you that this is because you have made a claim. This is clearly false yet they mantain their position even when challenged. This is seeking pecuniary advantage on the basis of a lie which, in my book certainly, is fraud yet they are supported in this by the Insurance Ombudsman, the body set up to represent the consumer. If you tried this you would soon find yourself charged with fraud and, in my book, rightly so. What I object to is that it seems to be acceptable for insurance companies to commit fraud with impunity. The insurance companies have a “fraud unit” there, as the name suggests, to investigate potential fraud. I bet they don't investigate fraud perpetrated by the insurance companies. Are we now to put our faith in another body supposedly set up to protect the consumer? There seems to be no area of service to the people of the UK, be that commercial or public, that is not deeply embroiled in corruption. No wonder we are in the sh*t and going down.