Home insurers make 100% of their profits through the 'loyalty penalty': Citizens Advice
Citizens Advice is calling for the FCA to identify concrete solutions to the loyalty penalty as part of its insurance market study, after its research found that 100% of home insurance profits come from loyal customers.
Research by the charity, which launched the dual pricing super complaint last September, has found that UK home insurers make all of their profits from loyal consumers.
According to its research
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Regulation
Insurers to deepen ties with asset managers
Insurers will deepen their ties with alternative asset managers as they shake-up their investment portfolios in a bid to boost portfolio returns, according to Moody’s.
MPs demand answers surrounding FOS CEO’s exit
The Treasury select committee has written to both the Financial Conduct Authority and Financial Ombudsman Service about the circumstances which surrounded the departure of CEO and chief ombudsman, Abby Thomas, last week.
Throwback Thursday: Labour’s red tape promise; FOS complaints
Insurance Post’s Throwback Thursday steps back in time to February 1995 to remind you what was going on this week in insurance history when the ombudsman predicted an uptick in general insurance complaints and Labour promised to create more red tape.
Insurance ramifications of FCA personal guarantees investigation
Todd Davison, managing director of personal guarantee insurance specialist Purbeck, explains the regulator's recommendation that lenders spell out what signing a personal guarantee means so small business owners can grasp the risk they accept in return for a business loan.
Government releases AI security code
The UK government has released an artificial intelligence cyber security code of practice aimed at helping organisations secure their AI systems.
What to expect from the regulator in 2025
In the first Insurance Post Podcast of 2025, regulatory experts reveal whether the Financial Conduct Authority will become a pricing regulator and slim down the rule book in the year ahead.
Insurance regulation: Who watches the watchdogs?
As HM Treasury looks to the financial watchdogs to help boost the general insurance sector’s competitiveness, Marcel Le Gouais observes oversight of the FCA and PRA is starting to look very different.
Climate campaign group slams government’s captives consultation
Global NGO campaign Insure Our Future has criticised HM Treasury’s captives consultation due to the potential for lowering capital requirements for captives to benefit from the fossil fuel industry.