Dissatisfied with OFT ruling, Eurobase plans to take complaint to European Commission
Software specialist Eurobase is considering taking its complaint over Xchanging Ins-sure Services to the European Commission (EC).
Eurobase is not satisfied with the OFT's recent ruling - which found no evidence that Xchanging Ins-sure Services was abusing its market position - and is considering several options, including taking its complaint to the EC.
The commission has powers to fine firms up to 10% of turnover if they are found guilty.
Eurobase commercial director Roy Hutchinson said: "Eurobase still thinks there is potential for distortion of competition in the market and, as a result, is considering a variety of options.
"Going to the EC is an option on the table."
Eurobase first alerted the OFT to the activities of its rival Xchanging in March, claiming at the time that Xchanging was abusing its monopoly position by tendering aggressively for contracts.
Last week's OFT ruling said: "We have no evidence to suggest that Xchanging is adversely affecting competition. There appear to be no constraints placed on the freedom of insurers in Lloyd's and the London Market to choose back-office service providers or software providers."
An Xchanging Ins-sure Services spokesman said: "We feel that the matter has been concluded and the OFT decision was very clear. However, we will be happy to take part in any investigation if it arises."