In response to the Competition and Markets Authority’s (CMA) proposals, Andy Watson, CEO of Ageas UK said:
"Ageas has consistently supported and called for measures that remove unnecessary cost from the motor market, including during the CMA inquiry. Whilst we will study the detail behind the proposals, we hope the cap on replacement vehicle costs achieves this objective and that as a result of this remedy, the CMA takes every opportunity to ensure that cost isn't simply inflated elsewhere in the market. Eradicating all unnecessary cost, coupled with better information for consumers to help them make informed purchasing decisions, is a good thing.
“We also support a ban on price parity agreements (or Most Favoured Nation clauses) in price comparison website contracts. We feel that price comparison websites offer an extremely useful and important service to customers, but the inability to reward their efforts or indeed those of other distributors of products such as brokers to create better risk pricing, is an anomaly."