The regulation of price comparison websites is set to increase after the Association of British Insurers (ABI) joined forces with new trade body The Comparison Consortium.
It says the link-up will help bring "unprecedented" professional standards to the industry, adding a code of practice for online portals and professional guidance for the insurers that use them will be central to its work. Price comparison sites have been criticised for allowing "desperate" insurers to leap to the top of results table simply by cutting prices and for their apparent inability to compare "like for like" products. Richard Mason, acting head of the Comparison Consortium, says its work with the ABI will bring about a "greater level of clarity and transparency" to the market....
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