Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

No, it is for motor and home insurance. It will seek to ban dual pricing and give the Central Bank the powers to address issues, for example, to finesse the policy. It will ensure that a renewal customer has to be treated in the same way as if that renewal customer was a new customer with the same firm. As the Central Bank has found, and as the FCA and others have found, if a person is with a company for nine years the person will be charged 35% more on motor or home insurance. That cannot happen anymore. The insurance industry would have to ensure that the same price is given to a renewing customer as if he or she was a new customer with that company. If affects some 75% of customers, which is 2.5 million people, and costs €187 million per annum above the cost of insuring these individuals.