Law360, London (November 27, 2019, 6:24 PM GMT) -- U.K. home insurers could struggle to make a profit next year if the country's financial regulator cracks down on pricing practices, Fitch Ratings warned on Wednesday.
The ratings agency said if the Financial Conduct Authority moves to limit price increases at renewal for insurance customers, it could “potentially disrupt traditional insurers’ business models.”
The option is one of several currently being considered by the FCA as part of its “remedial action” into the so-called loyalty penalty employed by most of the insurance industry.
The FCA found in October that six million U.K. policyholders were being overcharged £1.2 billion by their insurers...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!