The Financial Services Authority (FSA) is looking into requests to investigate price comparison sights for allegedly miss-selling insurance.

The British Insurance Brokers Association (Biba) argues that the rules governing price comparison websites needs to be revised as they are giving financial advice.

Biba explain that because the price comparison sites encourage people to look at insurance by focusing on the cost they may be encourage people to take out the wrong insurance policy.

For example, a person looking for home insurance may decide on a cheaper policy that doesn’t give them the level of protection they need.

Eric Galbraith, chief executive of Biba, say: “There are still too many people logging on and making a decision solely based on the price of a policy, rather than the protections it offers … the current FSA rules were written prior to the growth in aggregator sites. I believe the regulator should now look again at developing more appropriate regulations, to ensure that consumers are being afforded suitable protections.”