UK insurance firms are failing to implement rules designed to increase transparency and encourage shopping around at renewal time, the Financial Conduct Authority (FCA) has warned.

Introduced in April 2017, the rules require general insurers to clearly show customers the premium they paid the previous year alongside their proposed renewal policy.
Firms must also show a prominent, clear and straightforward message encouraging customers to shop around, however, the FCA has found that insurers continue to disobey the rules, with RAC the latest culprit.
"It is simply unacceptable that some firms are still not being properly transparent with their customers a year on from the introduction of the rules," FCA executive committee member, Jonathan Davidson, said.
"We have already acted where we have seen particularly poor practice in firms and will continue to do so where we see firms not being transparent."
This is the second time that the FCA has warned that insurance companies are failing to abide by the renewal rules, after sounding the alarm in October last year.
The watchdog said that firms were not implementing the rules for all their products and services, while some were found to have misstated the previous year's premium.
Companies have also been leaving out the required shopping around message, or not presenting it in a way that draws the reader's attention, and failing to identify the customers that need renewal information.
Comparethemarket.com head of motor, Dan Hutson, said it was "very concerning" that firms are not following the rules at a time when customers have experienced constant premium hikes.
"The lack of transparency shown by a number of insurance providers is, at best, a gross oversight and, at worst, an effort to hide the renewal price hikes and the benefits of switching provider," he said.
"The positive news is that the FCA is keeping a weather eye on the companies attempting to side-step the rules."