Kieran O'Donnell (Fine Gael) | Oireachtas source

I understand the point about insurance companies and competition for new customers. What I find difficult to understand is where they are increasing premiums for customers who are loyal because they believe they can get away with it. How does Insurance Ireland regard that as competition? I can understand the points about getting market share. It would be expected that their financial modelling would ensure they were not being reckless with unsustainable rates. How can Insurance Ireland, however, justify a financial model that effectively increases a premium because the customer will be held because of loyalty?