Why FCA inaction on premium finance is unacceptable
Despite falling motor insurance premiums and political inertia, Rebecca Deegan, director of campaigners Fair By Design, argues inaction on premium finance isn't acceptable and the regulator must act now to end the poverty premium and ensure fair outcomes for low-income drivers.
People living in the most deprived areas can pay more than £300 extra each year for their car insurance. This premium increases to almost £400 extra per year if they pay monthly instead of annually.
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