ABI proposals could ‘complicate’ broker market
Brokers and insurers issue reserved welcome for plan to show previous year’s prices.
Brokers have warned that the Association of British Insurers' (ABI) plans to make insurers publish the previous year's prices for motor and home insurance next to renewal quotes could complicate the broker market.
The ABI's proposal followed a survey which showed that 89% of respondents would find it helpful to see the previous year's prices against renewal quotes.
Michael Lawrence, personal lines director at LV, said: "LV welcomes any proposal to improve renewal information for customers
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