Insurance Cost Could Rise Up To 15% After FCA Reforms

By Martin Croucher (January 11, 2022, 12:07 PM GMT) -- The cost of home insurance in the U.K. could rise by as much as 15% in the first half of this year because the Financial Conduct Authority has reformed pricing practices in the sector, analysts said Tuesday.

Investment bank Berenberg said in a report that a ban on what the regulator describes as price-walking was likely to have a "hardening" effect on the market. The FCA introduced new rules this month that mean insurers are unable to charge long-term, loyal policyholders more than they do to attract new customers.

"New rules on general insurance pricing practices … are likely to be inflationary for...

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