Customers brand “sneaky” dual pricing “exploitative”
78% called for a ban on insurance firms charging higher prices for renewals than new business.
Almost 80% (78%) of insurance customers agreed that preventing providers charging a higher price for renewals than new business was a “good idea”, according to a survey by Consumer Intelligence.
Fifty percent of respondents branded the practice of dual pricing as “exploitative”.
The research followed the launch of the Financial Conduct Authority’s investigation into pricing in the home and motor market.
Sneaky
However, some respondents could see value in dual pricing with 39% agreeing that
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