Competition watchdog urged to take further action on MFN clauses
Insurers, brokers and price comparison sites have welcomed a Competition and Markets Authority investigation into Compare the Market’s use of a controversial clause that prevents home insurers from offering cheaper prices elsewhere, but brokers argue that more action on 'most favoured nation' clauses is needed.
The CMA’s investigation “provisionally” found that Compare the Market had broken competition law by using the practice.
MFN agreements affect all distribution channels, meaning that as well as
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Insurers continue to face the challenge of distinguishing and differentiating themselves on anything other than being among the cheapest providers.