ome good news at last: the insurance industry has been told it’s no longer going to be allowed to rip millions of people off.
The Financial Conduct Authority, in a stinging final report into the general insurance market (for which read home and contents, motor etc), says it’s planning to outlaw “price walking”.
This is the deeply cynical practice whereby insurers steadily “walk up” the price of the policies bought by people who stick with them. Think of it like shooting loyal soldiers in the back.
