Britain’s biggest price comparison websites are being ordered to address insurance listings that mislead or confuse their users.
The websites sometimes failed to provide the right information to users buying motor and household insurance, the Financial Conduct Authority said in a report yesterday.
They encouraged people to focus on the lowest price without understanding elements such as the level of cover or the size of the excess shouldered by the policyholder.
The FCA said the websites, while bringing simplicity to millions of people, were not meeting the requirement to deliver fair and consistent outcomes for consumers. They also failed to disclose conflicts of interest properly, including the fact they were often owned by insurers or insurance brokers.
The FCA examined 14 websites responsible for 90