FCA premium finance crackdown saves consumers £100m
Since the the Financial Conduct Authority’s head of insurance Matt Brewis labelled premium finance a “poor product”, car and home insurance customers have saved more than £100m in the past year after insurers reduced how much they charge policyholders for paying premiums monthly rather than annually.
That is according to Consumer Intelligence, which tracks consumer insurance costs through its Insurance Behaviour Tracker.
The benchmarking service claims the average total instalment cost compared
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