Research by Willis Towers Watson and Confused.com also shows continuing fluctuations in average premiums.
Consumer Intelligence CEO Ian Hughes points to opportunities for brokers as the industry deals with the "crack cocaine" of insurance, dual pricing.
Experts say the FCA should also consider value and quality of service, after the regulator hinted at a potential ban on dual pricing in its interim report.
Former head of GI at the FCA, Michael Sicsic, reflects on the regulator’s interim report into dual pricing.
Christopher Woolard outlined the findings of the regulator’s general market study into pricing and pledged to examine industry impact of the recommendations.
The sector has welcomed further consultation on the proposals which include a potential ban on dual pricing.
Regulator publishes interim findings in its general insurance pricing practices market study and states that the home and motor insurance markets are not working well for customers.
Underlying profit before tax fell 22.6% in retail broking and 53.3% in underwriting.
New publication date of the research is October 2019 and the completed report is due during December 2019.
Brokers look at fixed pricing as research shows vulnerable customers affected more by loyalty penalty
Research by GoCompare shows 44% of drivers let their car insurance automatically renew, with customers overpaying by £982m a year.
The Insurance Age team unpick the most recent and most popular stories.
InsurTech Futures: Broker launches new contents policy which includes loyalty discounts.
CII urges insurers to act now as FCA says findings from GI market study into dual pricing will be published later this year.
Report slams the loyalty penalty among other issues to be tackled in the financial services, water, energy and telecoms sectors.
Consumer body's suggestion follows the super-complaint from Citizens Advice.
The CMA had recommended price caps, as regulators propose solutions to the 'loyalty penalty', but the ratings agency suggests it could destabilise the market.
Commissioning editor Laurence Eastham reflects on his first month in the insurance industry.
The regulator has published a fresh response to the CMA.
The government referenced a 2017 study into digital comparison tools by the CMA.
The government is set to give the Competition & Markets Authority power to bypass the courts and fine firms that exploit loyalty.
DAC Beachcroft said analysis of FCA studies found that firms do not have sufficient focus on customers.
A survey by Go Compare show half of the drivers surveyed felt it should be illegal for insurers to reserve best prices for new customers.
The regulator’s Business Plan revealed a focus on “fair treatment for existing customers” amid dual pricing investigation and warned orderly transition post-Brexit is an “immediate priority”.