Irish Regulator To Investigate Insurance 'Dual Pricing'
Law360, London (November 13, 2019, 11:35 AM GMT) -- Ireland’s central bank has said it will investigate whether insurers are exploiting the loyalty of long-term customers through higher premiums to finance discounted prices for new customers.
Derville Rowland, director general for financial conduct at the central bank, told lawmakers on Ireland’s parliamentary finance committee on Tuesday that the first phase of the investigation will start in the New Year.
The regulator will work with the U.K.’s Financial Conduct Authority, which is in the process of deciding how it will intervene in the British market, Rowland said.
“We are going to in our first phase establish the nature and scale of practices...
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