Chris Dove
Media playback is unsupported on your device

Insurance renewals transparency under review

Axa will become the first big insurance company to remind customers in their renewal letters how much they were charged in the previous year.

Research by The BBC's You and Yours found that none of the biggest home and motor insurance companies currently tell customers how much their previous premium was, making a quick comparison difficult.

The Financial Conduct Authority (FCA) is looking at whether renewal notices should change so policyholders can see if their premiums have risen.

The BBC's Simon Gompertz reports.

  • 12 Feb 2015
Go to next video: How job titles affect car insurance