Dual pricing
News analysis: Dual pricing debate rolls on
Brokers look at fixed pricing as research shows vulnerable customers affected more by loyalty penalty
Over four million drivers stuck in £982m insurance loyalty trap
Research by GoCompare shows 44% of drivers let their car insurance automatically renew, with customers overpaying by £982m a year.
The Insurance Age Podcast: 9 August 2019
The Insurance Age team unpick the most recent and most popular stories.
Brolly CEO reveals new product that counters "absurd" dual pricing practices
InsurTech Futures: Broker launches new contents policy which includes loyalty discounts.
FCA reiterates dual pricing concerns
CII urges insurers to act now as FCA says findings from GI market study into dual pricing will be published later this year.
Government urges regulators to work together to help vulnerable customers
Report slams the loyalty penalty among other issues to be tackled in the financial services, water, energy and telecoms sectors.
ABI slams FSCP's proposed automatic-upgrade rule to tackle dual pricing
Consumer body's suggestion follows the super-complaint from Citizens Advice.
Dual pricing: Capping prices risks industry profits, warns Fitch
The CMA had recommended price caps, as regulators propose solutions to the 'loyalty penalty', but the ratings agency suggests it could destabilise the market.
The Blog Spot: First impressions
Commissioning editor Laurence Eastham reflects on his first month in the insurance industry.
FCA strengthens position on dual pricing
The regulator has published a fresh response to the CMA.
Government revives further regulation of aggregators
The government referenced a 2017 study into digital comparison tools by the CMA.
Insurers could face fines for £4bn dual pricing "rip off"
The government is set to give the Competition & Markets Authority power to bypass the courts and fine firms that exploit loyalty.
Brokers warned over admin fees and commission
DAC Beachcroft said analysis of FCA studies found that firms do not have sufficient focus on customers.
Research shows 50% of motorists think dual pricing should be illegal
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.
Brexit and customer fairness dominate FCA 2019/20 plans
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”.
Quizzical questions: 12 April 2019
Test your knowledge of the week's news with our topical quiz.
Saga says renewal pricing strategy change “aligned with FCA goal”
The provider announced yesterday that it will offer three year fixed price insurance to customers as it seeks to increase loyalty and arrest profit downturn.
Dual pricing: Working group investigates loyalty penalty
The Competition & Markets Authority has set up a panel to explore how its recommendations are being implemented.
Industry urged to tackle dual pricing
Citizens Advice calls for dual pricing discussion to “begin from the assumption that pricing differences are unfair” at Parliamentary meeting of regulators and trade bodies.
Customer trust in insurance drops
Research is published just a day after a Go Compare study claimed customers are caught in a £1.2bn auto-renewal “loyalty trap”.
Quizzical questions: 04 January 2019
Test your knowledge of the week's news with our topical quiz.
Insurance Rage: Ian Hughes on getting the industry off dual pricing "crack cocaine"
Should this be the insurance industry's New Year's resolution?
Review of the year: December 2018
Aviva's claim that it would disrupt the market with its new subscription-style product got brokers talking in the final month of the year.
Predictions for 2019: Park's Marc Loud
Broker predicts liability market hardening, greater onus on job training, and that vulnerable customers will be looked after better.