Insurers told to stop shortchanging UK drivers by undervaluing write-offs

City watchdog says firms have broken rules as consumers grapple with cost of living crisisInsurers must clean up their act after it emerged they have been breaking rules by undervaluing customers’ cars when vehicles are written off, the City watchdog warned.The Financial Conduct Authority (FCA) said it had evidence that some consumers were being shortchanged by their insurance provider as when their car was scrapped they were offered a figure below the vehicle’s “fair market va