Is the FCA too obsessed by price?
There is more to insurance than price alone and the regulator’s price comparison suggestion should be opposed, argues Tony Cornell
The Financial Conduct Authority (FCA) recently published proposals that require general insurance providers to publish details of last year’s premiums on renewal notices and would like feedback on this by 4 March. The rationale behind the proposal was that in a test with 300,000 consumers, this inclusion prompted 11-18% of people to either switch providers or negotiate lower premiums.
It is puzzling that after some 40 years of a totally free market that a regulator wants to interfere in a
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