Consumer Intelligence warns premium hikes could follow FCA pricing report

By Clare Ruel2020-09-23T07:40:00

Consumer Intelligence has warned that premium hikes could follow the proposals that were laid out in the FCA’s pricing practices report which was published yesterday

Consumer Intelligence has warned that insurance premiums could increase now that the FCA has ended dual pricing and the loyalty penalty.

Although this could benefit customers and especially vulnerable customers, insurers will not be able to make money elsewhere such as credit offerings and add-on products and this could lead to premium hikes, according to Ian Hughes, chief executive at Consumer Intelligence.

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