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  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 19th Jul 13, 4:15 PM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: Insurance firms should be clearer on costs, watchdog says
    • #1
    • 19th Jul 13, 4:15 PM
    MSE News: Insurance firms should be clearer on costs, watchdog says 19th Jul 13 at 4:15 PM
    "Insurance companies must undergo a 'cultural shift', the Financial Services Consumer Panel says..."

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    Insurance firms should be clearer on costs, watchdog says



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Page 1
    • dacouch
    • By dacouch 19th Jul 13, 4:19 PM
    • 20,702 Posts
    • 12,830 Thanks
    dacouch
    • #2
    • 19th Jul 13, 4:19 PM
    • #2
    • 19th Jul 13, 4:19 PM
    Sounds good
    • Lord Baltimore
    • By Lord Baltimore 19th Jul 13, 4:37 PM
    • 1,318 Posts
    • 1,306 Thanks
    Lord Baltimore
    • #3
    • 19th Jul 13, 4:37 PM
    • #3
    • 19th Jul 13, 4:37 PM
    And about time too.
    • Parking Trouble
    • By Parking Trouble 19th Jul 13, 5:55 PM
    • 594 Posts
    • 204 Thanks
    Parking Trouble
    • #4
    • 19th Jul 13, 5:55 PM
    • #4
    • 19th Jul 13, 5:55 PM
    Nothing new. Symptomatic of the UK's current decline.
    Any way to squeeze a few bucks out of the consumer whilst trying to give the impression they are saving us loads of money.

    Compare policies and customer satisfaction and don't just decide on price. You typically get what you pay for and until you claim you won't know how good or bad they are.
    Mr Straw described whiplash as "not so much an injury, more a profitable invention of the human imagination—undiagnosable except by third-rate doctors in the pay of the claims management companies or personal injury lawyers"

    • TSx
    • By TSx 19th Jul 13, 11:36 PM
    • 783 Posts
    • 549 Thanks
    TSx
    • #5
    • 19th Jul 13, 11:36 PM
    • #5
    • 19th Jul 13, 11:36 PM
    Nothing new. Symptomatic of the UK's current decline.
    Any way to squeeze a few bucks out of the consumer whilst trying to give the impression they are saving us loads of money.

    Compare policies and customer satisfaction and don't just decide on price. You typically get what you pay for and until you claim you won't know how good or bad they are.
    Originally posted by Parking Trouble
    To a degree it's a race to the bottom - very difficult to stay in business if you can't generate good ancilliary income - and to be at the top of the comparison sites, you need to pare everything back and provide a minimum quality no frills product (in general) - this means that everything beyond the initial setup and lapse of the policy needs to be charged for.

    Regulation will help - it will certainly level the playing field for insurers which can only be good for consumers.
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