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Comparison websites back in the limelight!

Plans to introduce a watchdog to cover the UK comparison website sector have collapsed when a voluntary code attracted little attention and very few signatures from industry players. A number of the more prominent comparison websites in the UK refused to sign up for a number of reasons and there are now concerns that the UK government will step in to introduce a more formal watchdog for the sector.

It is unclear as to why individual comparison websites were against the new voluntary code with some consumer groups having questioned various strategies and various tactics used by industry players. However, there is no doubt that comparison websites have saved customers in the UK literally hundreds of millions of pounds over the years but there are concerns that maybe some of the deals mentioned are not as attractive as they may look at first sight.

We have also seen a number of companies, specifically in the insurance sector, refuse to co-operate with comparison websites which has reduced their competitiveness in the marketplace. While there is no doubt that the comparison website sector is here to stay, it is highly likely we will see a number of significant changes in the short to medium term with consumer protection coming to the fore more and more.

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