FCA (The UK Financial Conduct Authority) is considering a ban on automatic insurance price increases after it emerged that about six million loyal customers were being overcharged around £200 ($246) in premiums. The regulator said the market "is not working well for all consumers". Other remedies could include forcing firms to find customers' cheaper deals. The The UK Financial Conduct Authority is set to publish a final report early next year.
The UK Financial Conduct Authority (FCA) is considering a ban on automatic insurance price increases after it emerged that about six million loyal customers were being overcharged around £200 ($246) in premiums. The regulator said the market "is not working well for all consumers". Other remedies could include forcing firms to find customers' cheaper deals. The FCA is set to publish a final report early next year.