INSURANCE COMPANIES RAIDED AFTER ALLEGATIONS OF PRICE FIXING

Officials from the Competition Watchdog have raided a number of insurances companies and brokers as part of an investigation into price fixing.

Officers from the Competition and Consumer Protection Commission carried out the raids this morning.

Last September the CPCC launched an investigation into the industry amid concerns that companies were openly signaling price increases in breach of competition law.

A number of industry groups were issued with witnesses summons at the time.

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