The UK Financial Conduct Authority ( plc ) is considering a ban on automatic retail price increases after it emerged that about six million loyal ##ists were being overcharged around £ 200 ( $ 1000 ) 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 month .
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.