FCA announces Direct Line pricing review

Direct Line Group has agreed to carry out a review after it found it had charged some existing home and motor customers more for their renewal than would have been charged to new customers. The review will identify all instances where customers have been overcharged and Direct Line will provide appropriate redress.

This is the first time a formal voluntary requirement has been agreed with a firm in relation to FCA’s motor and home insurance pricing rules, which took effect on 1 January 2022.