Question 1

What does the Insurance (Restriction on Differential Pricing and Profiling) Bill 2021 do?

Accepted Answer

Bans insurers from charging existing customers higher premiums than new customers for motor and home insurance based on loyalty or renewal likelihood. Requires insurers to use only risk-related pricing factors and disclose all rating factors applied to each customer's premium calculation. Gives Central Bank power to regulate compliance, issue codes of practice, and impose sanctions on non-compliant insurers; requires annual reports to parliament.

Question 2

What stage is the Insurance (Restriction on Differential Pricing and Profiling) Bill 2021 at?

Accepted Answer

As of 14 Nov 2024, the Insurance (Restriction on Differential Pricing and Profiling) Bill 2021 is at Second Stage in 33rd Dáil. Once a bill passes every stage in both Houses of the Oireachtas and is signed by the President, it becomes law.

Question 3

Who introduced the Insurance (Restriction on Differential Pricing and Profiling) Bill 2021?

Accepted Answer

The Insurance (Restriction on Differential Pricing and Profiling) Bill 2021 was sponsored by Pearse Doherty, and was introduced on 14 Jan 2021.

Insurance (Restriction on Differential Pricing and Profiling) Bill 2021

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