Oireachtas Joint and Select Committees

Tuesday, 12 November 2019

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Dual Pricing for Insurance: Discussion

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Returning to the consumer protection code, I am conscious that the Central Bank has to carry out an analysis of the industry. How can a person be charged significant extra fees by the same insurance company at renewal time despite no change in his or her risk? We know that people tend to roll over their policy and accept the renewal quote they receive, even though they could get a significantly reduced quote online. I have countless examples of this and I am a living breathing example of it. How can that be seen as fair in any way shape or form under the definition of the consumer protection code 2012, which places a responsibility on insurance companies to be clear and fair with their customers?

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