Sinn Féin TD for Tipperary, Martin Browne, has called on all TDs to support his party’s Bill to end insurance the insurance rip-off, which will be debated in the Dáil on Wednesday. The Bill will reduce insurance prices by banning the practice of ‘dual pricing’, used by insurance companies to identify loyal customers and charge them artificially high premiums. The practice affects million so policyholders, costing customers hundreds of euro per year on their car or home insurance.
Deputy Browne said: “It is time to end the insurance rip-off and reduce prices for customers. Insurance companies are price-gouging customers every year using a practice that is banned in twenty US States, and is soon to be banned in Britain […] it will require the Central Bank to draw up and enforce regulations that will govern the ban. The Bill will also require insurers to tell you exactly how your premium has been calculated”.