Review’s raises concerns over price practices used by some insurance companies

 

A Central Bank review's raised concerns over price practices used by some insurance companies.

It says differential pricing is used by the majority of firms and that they should understand fully the impact that has on their customers.

The review also states there is insufficient evidence of a customer focused culture in respect of pricing decisions and practices.

Sinn Fein says the findings confirm the insurance industry uses pricing methods that punish loyal customers and harm vulnerable and low-income groups.