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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
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