U.K. Regulator To Review Insurance Industry

Law360, New York (February 7, 2007, 12:00 AM EST) -- The United Kingdom’s Office of Fair Trading has handed off a case dealing with the payment protection insurance market to the Competition Commission for a full-scale investigation.

The OFT said Wednesday it believed consumers were “getting a poor deal” and referred the Commission to thoroughly review the $10.8 billion insurance market, which deals with the repayment of loans when borrowers become sick, injured or unemployed.

“Our examination of the evidence presented to date gives us reasonable grounds to suspect that there are features of this market...
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