Price comparison sites warned to improve

The Financial Services Authority (FSA) has turned down brokers’ requests for a review of ICOB rules in relation to price comparison websites. The regulator said that during a review of 17 insurance comparison websites, it identified a mixed picture of the clarity, fairness and accuracy of the information given to consumers and has called on all websites to review their content and ensure that they treat their customers fairly. The regulator added that it will be visiting firms to ensure that they are meeting standards but it stopped short of taking any further action.