The Financial Conduct Authority (FCA) has warned it will take action against general insurance firms who are failing to properly implement rules introduced to increase transparency and encourage shopping around at renewal time.
It is simple, providers must show last year’s premium on renewal documents so customers can compare it with the renewal quote.
It is clear from the FCA Business Plan, just published for 2018/19, that the regulator finds the whole matter rather worrying and has concerns
The Insurance Age team unpick the most recent and most popular stories.Subscribe to our daily newsletter for all the latest news
- Ardonagh confirms the end of all Swinton retail branches
- Ardonagh losses rise to £44.5m in H1 2019
- Aon UK confirms solicitors’ PI cover has been withdrawn
- Bravo Group spent £53m on deals in 2018
- PIB u-turns on pledge to keep Albany Childcare brand
- FSCS set to compensate Alpha Insurance latent defect insurance policyholders
- Romero Group moves to Applied Epic