Car insurance complaints spike in Britain, says regulator 

Insurance companies had not done a good job in forecasting inflation and its impact

MPs told of significant increase in pricing of motor and home insurance over the last two to three years

The rising cost of car insurance in Britain has triggered a barrage of complaints in the cost of living crisis, Britain's financial watchdog told MPs, as the insurance industry insisted that prices remain at 2018 levels in real terms.

Matt Brewis, director of insurance at the Financial Conduct Authority, or FCA, said he has heard "heartrending stories" from people trying to make ends meet as costs such as insurance rise.