Six million insurance customers are being hit by 'loyalty penalty'

A third of those paying too much are on low income or vulnerable, says watchdogSix million home and motor policyholders are being overcharged around £200 a head every year by insurance firms, according to a damning assessment of the industry by the Financial Conduct Authority.The City regulator found that elderly and low-income people were among the worst hit groups overpaying a combined £1.2bn in annual premiums because insurance firms are not giving good deals to loyal customers. C