Comparison Scraper Sites Examined
Financial Services Authority may look at Comparison sites.
Concerns that many comparison sites are only focusing on price and not on the other complexities of insurance policies may force the Financial Services Authority (FSA) to investigate complaints from the insurance trade.
Comparison sites unlike insurance cheap often take in the details of an individual, send that information to a panel of insurers and return a list of quotes ranked in terms of price.
The FSA had previously looked at the comparison sites and decided that no further regulation was necessary, but with the comparison market evolving on a monthly basis and the warnings from the British Insurance Brokers' Association may prompt another look at the regulations.
Shares in Moneysupermarket one of the largest comparison sites fell on the news.
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