ABI calls for greater transparency on motor and home pricing
Trade body claims proposals would improve clarity for customers on motor and home insurance.
The Association of British Insurers (ABI) has written to the Financial Conduct Authority (FCA) urging it to ensure that when customers are offered renewal quotes the document includes the previous year's price for ease of comparison.
The proposal would affect private motor and home insurance documentation and according to the trade body would improve clarity for customers.
Discounts
In addition the ABI has called for policy documents for new customers to make clear that any introductory discounts
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