Price comparison sites criticised over failings

January 21, 2015 3:25 pm

Many sites fail regulatory standards by not providing enough details for consumers to make informed choices, says FCA. Price comparison websites are breaking regulatory rules by prioritising price over cover in many cases, said the City watchdog.   The Financial Conduct Authority looked at 14 price comparison websites, which between them account for 90% of the market, selling private motor, home and travel insurance and concluded that many were failing regulatory standards. The websites did not always provide clear information on basics such as the terms of the policy and the cover it provided, as well as the excess that...