Tag: Car Insurance Pricing

Car insurance regulator launches pricing investigation | Motor1

Car insurance regulator launches pricing investigation | Motor1

Financial Conduct Authority says pricing practices could be causing “consumer harm”. The UK’s financial regulator has confirmed that it will investigate the way in which firms charge their customers for home and motor insurance. The Financial Conduct Authority (FCA), which regulates markets such as banking and insurance, confirmed that a piece of “supervisory work” on […]

CLC Price Transparency Guidance Announced | Today’s Conveyancer

CLC Price Transparency Guidance Announced | Today’s Conveyancer

If you are a member from the Council for Licensed Conveyancers (CLC), then the deadline for price transparency has been officially set for December 6th. Yesterday, the CLC released their official guidance and pricing templates that will meet the minimum standard requirements in relation to quality, price and service transparency. In addition to the guidance, […]

Drivers Can Get Cheap Car Insurance Quotes And Save Money | Benzinga

Drivers Can Get Cheap Car Insurance Quotes And Save Money | Benzinga

Car insurance companies have their own rules regarding clients’ classifications and costs. Furthermore, many companies use price optimization in order to slowly increase the costs over time. This means that the offer the client thought it was the best last 2-3 years ago, may now be really expensive. And other offers, much better, have appeared […]

Car insurance shock – How your email address could increase your premium cost | Express.co.uk

Car insurance shock – How your email address could increase your premium cost | Express.co.uk

The investigation found that several insurance companies gave different quotes depending on whether it was a Gmail, Yahoo or Hotmail address being used. Three quotes were ran on three different comparison sites, with the same details on each, with the type of email address being the only variant. The first 12 quotes received on the Confused.com and […]

MPs debate £1,200 cap on insurance costs for young drivers | BBC News

MPs debate £1,200 cap on insurance costs for young drivers | BBC News

MPs are debating whether car insurance costs for young people between the ages of 18 and 25 should be capped at £1,200 a year. It follows an online petition that was signed by 185,000 people. So-called e-petitions that attract more than 100,000 signatures have to be considered for a debate in Parliament. It comes on […]

Risk-pricing strategy can make roads safer | New Straits Times

Risk-pricing strategy can make roads safer | New Straits Times

LAST Saturday’s fatal bus accident that claimed 14 lives could have been avoided if bus companies paid higher insurance premiums. Safety and proper maintenance may not be our strong points, but penalty and reward may be the best option to reduce bus-related fatalities and improve the bus system. In developed countries, such as the United […]

Car insurance pricing practice gets flak from regulators | Insurance Business

Car insurance pricing practice gets flak from regulators | Insurance Business

Technology now allows consumers to compare car insurance prices practically with the tip of their fingertips, so regulators are making carriers toe the line in pricing their products, according to a recent report. So far, the report said, 16 states, including Colorado, Minnesota, and Virginia, have banned the practice of “price optimization,” in which clients […]

Car Insurers Find Tracking Devices Are a Tough Sell | WSJ

Car Insurers Find Tracking Devices Are a Tough Sell | WSJ

Companies that don’t offer a usage-based program could be impacted by “adverse selection,” according to Carl Smith, a director of product management in the U.S. car-insurance operations of Spanish insurer Mapfre SA, meaning they could be stuck with many bad drivers as rivals’ usage-based programs attract good ones. Mapfre began rolling out a program in […]

Consumers Union Testifies About Unfair Car Insurance Pricing | Consumer Reports

Consumers Union Testifies About Unfair Car Insurance Pricing | Consumer Reports

When it comes to car insurance, how much you pay could have little to do with how well you drive. That’s something Richard Harbaugh and his wife, Kathleen Spencer, of Duluth, Minn., found out first-hand. The couple—he’s retired from the military and she was a nurse for 30 years—say they never made a claim on […]

State warns insurers to charge fair prices for auto, home policies | witf.org

State warns insurers to charge fair prices for auto, home policies | witf.org

(Harrisburg) — The state is putting insurers on notice. Using complicated formulas, insurance companies have tried to predict whether a customer will shop around, or jump to another insurer, if their premium costs for auto or home insurance go up. It’s known as price optimization, and in Pennsylvania, it’s illegal. The state Insurance Department recently […]