RegSol Blog

Central Bank of Ireland - Review of Differential Pricing in the Private Car and Home Insurance Markets

August 2021

The Central Bank has published its final report into differential pricing in the home and motor insurance markets in Ireland. The report has identified that some pricing practices can lead to unfair outcomes for car and home insurance customers.

There are 3 proposals in the report:

  • A ban on “price walking” - Price walking is where consumers are charged higher premiums, relative to the expected cost, the longer they remain with an insurance provider. This would remove the imposition of ‘loyalty penalties’ on these consumers.
  • A requirement on providers of motor and home insurance to personal consumers to review their pricing policies and processes annually, to make sure providers are following the new provisions and have fair treatment of customers as a top priority.
  • The introduction of a new consumer consent and disclosure requirement. This would ensure the automatic renewal process is more transparent for all personal non-life insurance products.

The full report is available here: 
Review of Differential Pricing in the Car and Home Insurance Markets