Compare the Market Fined £17.9 Million for Keeping Costs Artificially High
In the News
Just seen this in the news and thought it was really interesting and wondered what you thought of it?
Compare The Market have just been fined £17.9 million by the Competition & Markets Authority (CMA) for stopping the home insurers (whose results appear on their comparison website) cheaper elsewhere.
The CMA said that there was a clause in the contacts issued to home insurers between December 2015 - December 2017 which stopped them giving cheaper prices on other insurance comparison websites and therefore stopping them from growing as they were not competitive.
They also said that without this clause, Compare the Market would have had to work harder to keep competitive by keeping an eye on their pricing.
Compare the Market are not happy with the decision and are looking at the ruling closely before making a decision in whether to appeal it.
What do you think? Do you trust the comparison websites or do you look elsewhere? Or like me - do you just love a Meerkat and the restaurant offers with Meerkat movies and meals?
Source - BBC News >> HERE
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