UK insurers to offer better value motor premium finance, but price cap still off the table

By Sofia Gerace ( April 24, 2024, 23:01 GMT | Insight) -- UK insurers have committed to better assess the prices of motor premium finance when selling it to their customers, the Association of British Insurers have said today. But an industry-led cap on premium finance charges is still off the table. The commitment from the insurance industry follows complaints from the UK's Treasury Committee about the 50 percent increase in motor insurance in the country over the past year, which led to a significant increase in complaints from customers to the Financial Ombudsman.UK insurers have committed to better assess the prices of motor premium finance when selling it to their customers, the Association of British Insurers said today. But an industry-led cap on premium finance charges is still off the table....

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UK insurers to offer better value motor premium finance, but price cap still off the table

Prepare for tomorrow’s regulatory change, today

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