Insurance Body Warns Of 'Burden' After FCA Pricing Overhaul

By Martin Croucher (November 9, 2021, 11:10 AM GMT) -- A trade body has warned that insurers and brokers could face an "unmanageable administrative burden" when a shake-up in home and motor insurance pricing practices is introduced at the start of next year.

The Lloyd's Market Association said on Monday that it has launched a guide for its members to help them adapt to the new regulations, being introduced by the Financial Conduct Authority, as it seeks to prevent any problems from snowballing.

The FCA will require insurers from the start of January to ensure that existing policyholders are being charged no more for their cover at renewal than they are offering to...

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