AUTHORs:
Darren Maher, Gráinne Callanan
co-author(s):
Claire Scannell
Services:
Financial Institutions, Insurance and Reinsurance
DATE:
27/07/2021
Better outcomes for consumers at the centre of the Central Bank of Ireland’s Final Report on the Differential Pricing Review PDF | 0.32 MB
On 21 July 2021, the Central Bank of Ireland (the “Central Bank”) published its final report (the “Final Report”) on its Differential Pricing Review (the “Review”) with respect to both the private car and home insurance markets. The three stage Review confirmed the Central Bank’s concern that differential pricing impacts negatively on certain consumers and leads to outcomes which are inconsistent with the Consumer Protection Code 2012 (the “Code”). In response to these findings, the Central Bank makes a number of proposals to address these impacts through increased requirements to be effected by amendments to the Code.
Read the full document here.