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UK regulator: web aggregators could do better

The UK financial regulator has called on insurance comparison websites to lift their game and ensure their customers have access to accurate policy information.

Following an extensive review, the Financial Services Authority (FSA) gives 17 leading British “aggregators” a mixed scorecard in terms of treating customers fairly.

While welcoming the report, the British Insurance Brokers’ Association has called on the FSA to create a level playing field by ensuring aggregators guarantee their quotes, as brokers are required to do.

The Association of British Insurers says the regulator should extend the review to “cover all financial services comparison websites”.