Regulation of the general insurance industry, introduced last year, is costing £400m a year, the Association of British Insurers (ABI) has said.
The body said its members were having to pass on these costs to consumers in the form of higher premiums.
The FSA is reviewing how effective its regulation of insurance has been.
Stephen Hadrill, ABI director general, said: "Many customers feel bombarded with [regulatory] information they do not want."
"That deters them from searching out the best deal. Customers need principles-based regulation to ensure a competitive market that delivers a fair deal," he added.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
