Mr. Brian Mahon:

It is a costing initiative. We use it, as many other industries do, to supplement new business pricing in the market. It allows us to be more competitive within that market. In my experience, in the area of broadband, for example, I pay four times the new business price for broadband. I am also paying 70% more for my bank charges than a new business customer would pay at the same bank. Similarly, in utilities, I am paying about 30% more. That is my experience. Differential pricing is not, therefore, uncommon across a number of industries. We do it to stimulate competitiveness within the market. From the point of view of insurers, differential pricing is not a profit-generating initiative but more of a means of generating new business. If it was removed, it would be beneficial overall for the insurance industry. That is why we are pushing in the UK to see if we can road test that product. We would then be selling on key differences, such as brand, product and financial stability. Those would be the main reasons customers make decisions.