FCA signs death warrant for dual pricing
The regulator outlines proposals for a “significant reform” of the motor and home insurance markets and slams "complex and opaque" pricing practices.
The Financial Conduct Authority (FCA) has revealed radical plans to ban dual pricing in its final report of its market study into the pricing of home and motor insurance.
The regulator has proposed that anyone renewing their policy should be charged the same price as a new customer.
In its interim report, the watchdog attacked the home and motor insurance markets for not working well for consumers and proposed a number of remedies, including banning or restricting dual pricing practices.
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