Dual pricing
Blog: Next steps for the insurance sector as FCA cracks down
Former head of GI at the FCA, Michael Sicsic, reflects on the regulator’s interim report into dual pricing.
FCA denies dragging feet on 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.
Market warns of "unintended consequences" following FCA dual pricing study
The sector has welcomed further consultation on the proposals which include a potential ban on dual pricing.
FCA considers ban on dual pricing practices
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.
Saga profits plummet in all operating areas
Underlying profit before tax fell 22.6% in retail broking and 53.3% in underwriting.
FCA pushes back publication of dual pricing report
New publication date of the research is October 2019 and the completed report is due during December 2019.
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.