Member Article

Comment on the FCA’s review of comparison websites

Following the Financial Conduct Authority’s review that found some price comparison websites operating in the general insurance sector are failing to meet consumers’ expectations of them and is some cases the FCA’s regulatory standards, Michael Ward, Managing Director of PayingTooMuch.com said:

“We certainly support the FCA’s review, in particular the concern that consumers are focused on headline pricing and brand distracting them from crucial product coverage and terms. With travel insurance, the cheapest policy is no good if people do not disclose their pre-existing medical conditions when buying as this can result in serious disappointment at the time they need to claim. PayingTooMuch will not provide travel insurance unless full disclosure is made and will not knowingly allow customers to buy policies without their medical conditions being included. We and they will want them to have a policy that will pay out and give them a true feeling of security.”

This was posted in Bdaily's Members' News section by PayingTooMuch .