FCA: Consumers overpaying £108m a year in ‘poor value’ add-ons
The Financial Conduct Authority said customers may be overpaying £108m every year in insurance add-ons, with sometimes less than 10% of retail premiums for add-ons paid out in claims.
The watchdog published 'scorecards' of 38 insurers, analysing claims frequency for add-on products and claims acceptance rates.
The scorecards were for four main product areas: home, home emergency
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