Competition authority criticises insurance comparison site

Most websites which compare savings schemes and travel insurance contain misleading or wrong information and many are unclear about their funding or ownership structure, the Dutch competition authority NMa said on Friday.

More than 60% of 40 sites investigated give wrong interest rates or premium charges, and three-quarters of travel insurance comparison sites don’t contain enough products to make a proper comparison, the NMa says.
Around half the sites looked at make it difficult to find out who owns the site or how it earns money.
‘Comparison sites are very useful for consumers, but they must be complete, corrrect and transparent,’ said NMa board member Henk Don.

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