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Insurance companies could be forced to provide clearer information on renewal quotes, after coming under pressure from consumer groups. When consumers are informed of a new premium, they are not usually reminded what they paid previously. As a result, some customers may not even be aware that the cost of their insurance policy is going up. Now the City regulator is drawing up new rules to ensure renewal quotes include previous premiums as well. That would enable policy-holders to see whether, and by how much, their bill had risen. The Financial Conduct Authority's (FCA) decision follows pressure from consumer groups, including Which? The Association of British Insurers (ABI) has proposed the change itself, and has written to the FCA suggesting it. http://www.bbc.co.uk/news/business-28229282
Budget airlines, phone companies and gyms could be forced to make the small print of contracts clearer under proposals to reform the law. Loopholes used by companies to bury extra charges and payments could be closed under plans unveiled today by the Law Commission, the independent legal review body. If successful, the proposals would mean consumers would be able to challenge companies over extra fees and clauses if they were not displayed prominently and transparently. http://www.dailymail.co.uk/news/article-2178533/Why-small-print-soon-little-clearer-everyone.html