Insurers are increasing admin fees after ‘loyalty penalty’ ban
Research from Go Gompare found that more products are subject to administrative fees across its car insurance policies since the introduction of the Financial Conduct Authority’s General Insurance Pricing Practices regulations last year.
As of 1 January 2022, insurers had to offer new and existing customers the same price for their annual policy, so the price calculated at renewal must not be higher than that offered to a new
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