MD says aggregators are a "force for good"

Aggregators have hit back at BIBA's demand that the regulator impose sterner restrictions upon their activities.

Managing director of insurance comparison website, Hayley Parsons said: "All the major insurance comparison sites are already authorised and regulated by the FSA, as are the insurance companies and the brokers who appear on them.

"Had BIBA's comments come two years ago I might have agreed with them, however the new players in the comparison market have led the way in terms of providing far more product information to help consumers make the most informed choice and find the best product for them."

She added: "Biba’s research isn’t telling us anything new – people find insurance confusing whichever way they buy it. Price comparison websites have been a force for good in terms of transparency and allowing consumers to check their renewal premium against typically around fifty other insurers. The best comparison sites now deliver a huge amount of product information so that consumers can see at a glance what the different providers offer."