TDs to debate bill on 'dual pricing' for insurance policies
TDs will debate a new Sinn Féin bill in the Dáil later that would ban 'dual pricing' for insurance policies.
The practice sees new customers being offered better rates than loyal customers who renew their policies.
The Central Bank's considering if it'll recommend banning the practice, after finding dual pricing to be more common than insurers admit.
Director of the Alliance for Insurance Reform, Peter Boland, says government needs to consider the new legislation.
"It may well be the case that when the analysis is done by Government, the Department of Finance and by the Central Bank that some changes need to be made, and if that's the case so be it.
"This needs to be done quickly. As we've seen too often, reforms which benefit the customer can just take too long to work their way through the system."
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