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A row of multi-colored terrace houses in Chelsea, London, U.K. (Photo: iStock) A row of multi-colored terrace houses in Chelsea, London, U.K. (Photo: iStock)

The U.K.’s Financial Conduct Authority (FCA) recently announced a proposal to change how insurance companies price home and car coverage. The restructure will reportedly save consumers 3.7 billion pounds ($4.7 billion) over 10 years by preventing insurers from charging renewing clients more than new ones, the regulator said in a statement.

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Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

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