Watchdog Warns Travel Insurance Industry On Pricing
Law360, London (October 10, 2019, 5:40 PM BST) -- Europe’s top insurance regulator on Thursday called on firms to tackle the high fees consumers are paying for travel insurance, warning they could be in breach of European Union consumer protection rules through opaque pricing of products.
The European Insurance and Occupational Pensions Authority has spent more than 12 months investigating the ways that consumers can be harmed in the travel insurance sector. The regulator has been looking at how insurers’ business models — including those that cross-sell products or use digital channels — affect their customers as well as the wider insurance industry.
The watchdog said it had found evidence of...
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