UK financial regulator to crack down on pricing policies of home and car insurers  

Financial Conduct Authority concerned these markets are 'not working well for consumers'

Home and car insurers use 'complex and opaque pricing practices' and target increases on clients who are less likely to switch insurers, according to the FCA.

The UK markets regulator plans to overhaul the way insurers price home and car coverage in a bid to save consumers £3.7bn (€4bn) over 10 years.

The Financial Conduct Authority said it is concerned these markets are “not working well for consumers".