Ireland's Insurance Watchdog Mulls Fix For 'Dual Pricing'

Law360, London (November 17, 2020, 10:26 AM GMT) -- Ireland's financial watchdog said it would carefully weigh the "likely costs and benefits" of a crackdown on so-called differential pricing used by insurers, as it reviews the effects of the practice on competition and prices.

The Central Bank of Ireland said Monday that it was aware that some insurers charged more for customers that were less likely to shop around at renewal than they did for new clients. But it said there were benefits for some consumers under the existing arrangements.

The authority launched a review of differential pricing — also known as dual pricing, or the insurance "loyalty penalty" —...

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