Ms Derville Rowland:

We are talking about car and house insurance products. These are products that are purchased by people year after year. We are talking about a market where different pricing is a permitted practice. The consumer protection code is about protecting all of the consumers. When we look at this, we have to look at the life cycle of the products and see how that plays out for customers over time. We have to see how that works for people. There is a significant group of customers who regularly get far better deals for themselves because they re-broker and move around every year. There are others who do not do so and we have to look at how they are treated over time and see what the impacts are for them. We believe it is very important to do that and to analyse any innovation or new practices that might develop in the approach to pricing that need to be addressed. We need to do the work in that respect. That is why we are undertaking this study.