Insurance Times explores how the regulator’s proposed measures to mitigate price walking could have an adverse effect on the use of price comparison websites
Despite the positive intentions behind the FCA’s actions, the suggested measures may have a detrimental effect on PCWs and lead to less consumers switching their cover or shopping around.
James Daley, managing director of research foundation Fairer Finance, explained: “The FCA’s new rules will be bad news for comparison sites. The FCA’s own research shows that switching levels will fall and, although their modelling only shows small decreases, I think we have to be prepared for the reality to be much worse.”
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