The ratings system, by Fairer Finance, is calculated by a series of ‘red line requirements’. James Daley, managing director of Fairer Finance said other star ratings systems enabled insurers to “game the system” by including “unnecessary levels of cover” in their products. In car and home insurance, less than 10% of products are rated five stars. Daley said in ratings systems provided by “other providers” as many as 40% of products were rated five stars. Daley added: “More and more people are
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