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The UK Office of Fair Trading recently consulted on commitments offered by several motor insurance providers, following concerns about the exchange of pricing data between competitors. The Office of Fair Trading was concerned that, by subscribing to a particular piece of market data analysis software, insurance companies were able to access not only the pricing information they themselves provided to brokers through the software, but also pricing information supplied by competing insurers. This article explores the economic logic behind the commitments and the competitive effects of sharing price data in the insurance sector.
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