Lack of transparency around insurance driving low trust levels, MPs hear

UK consumers believe insurance is becoming more of a “rip-off”, a committee of MPs has heard.

Treasury Committee member Dame Angela Eagle told a hearing into insurance: “My constituents and many people who write to the committee feel that insurance is becoming more of a rip-off.

“Because the price is going up, it’s harder to make a claim; people, when they do make a claim, often have to wait a very long time or aren’t dealt with very fairly.

“And that’s particularly the case for insurance that’s compulsory, such as driving insurance.”