The UK’s Competition and Markets Authority is said to be reconsidering earlier proposals to enforce price caps on the cost of replacement vehicles following a collision.
According to reports, the CMA first introduced the rules in June to seek public opinion on the matter. The new regulations would put price caps on the cost of replacement vehicles paid by car insurance claimants following a non-fault accident. The CMA had also called for discussion on whether the rules should include a ban on most-favored nation clauses.
Now, however, the authority is forced to reconsider the rules after some respondents to the original proposals noted that the CMA does not actually have the power to enforce such price caps. The authority said it could drop plans for new rules altogether.
The CMA is set to close its investigation into vehicle replacement costs in two months. If it decides to drop the price cap rules, say reports, the CMA said it could push the adoption of a general term of agreement or consider revising the rules.
Full content: Post Online
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI