Auto Insurance Costs 'Stable' Ahead Of FCA Policy Revamp

Law360, London (January 18, 2021, 1:43 PM GMT) -- Motor insurance premiums fell in 2020 but stabilized toward the end of the year, an indication that prices are coming under pressure because of the Financial Conduct Authority's proposed policy changes on market pricing, Wills Towers Watson has said.

The average cost of motor insurance fell for four consecutive quarters, with drivers paying 6% less than they were 12 months ago for car insurance premiums, according to analysis by the insurance broker and a price comparison site, Confused.com. Motorists are paying £52 ($70) less than they were a year ago.

"Most of that reduction was evident in the middle part of...

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