Regulatory Alerts2021-07-20
2021 Review of Differential Pricing in the Private Car and Home Insurance Markets
The Central Bank of Ireland proposes reforms to ban price walking and require annual pricing reviews in the private car and home insurance markets to prevent unfair outcomes for long-term customers. The regulator also mandates explicit consumer consent and enhanced transparency for automatic renewal processes to ensure policyholders can make informed decisions. These measures, subject to public consultation until October 2021, aim to strengthen consumer protection by eliminating loyalty penalties and improving oversight of differential pricing practices.
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