Antitrust Authority Fines Insurance Comparison Site £18M
Law360, London (November 19, 2020, 10:22 AM GMT) -- Britain's antitrust watchdog said on Thursday that it has fined ComparetheMarket £17.9 million ($23.5 million) after finding that the price comparison website prevented home insurers from offering lower prices elsewhere, in violation of U.K. competition law.
The price-comparison platform inserted clauses in its contracts with home insurers barring them from offering cheaper cover on other comparison websites, the competition watchdog has said. (Getty) The pricing platform wrote clauses into its contracts with home insurers that barred them from offering cheaper cover on other comparison websites, the Competition and Markets Authority said. This prevented ComparetheMarket from being undercut in the sector between December...
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