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Targeted solutions are needed to help reform Ireland's insurance sector

All of us have become increasingly aware of the practice of differential pricing - the charging of different customers different prices for the same good or service. It exists in a diverse range of sectors, such as supermarket shopping, energy, telecommunications and airline travel, to name but a few.
As consumers we come across it in the course of our daily lives, without ever thinking too much about it. We may, for example, be paying more than other shoppers who have vouchers when doing our weekly shopping. In a market where consumers shop around, this practice can bring benefits as well as encourage competition and innovation among providers. This is a common pricing tactic for many businesses, it is a practice that can also work against consumers who may not be in a position to shop around. ....

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gov.ie - New Government Office Established to Promote Competition in the Insurance Market

New Government Office Established to Promote Competition in the Insurance Market

The Government has established an Office in the Department of Finance to encourage greater competition in the Irish insurance sector. The Minister of State at the Department of Finance Seán Fleming TD chaired its first meeting this week to establish its terms of reference.
This Office will develop the Government s ambitious insurance competition reform programme. This will provide a more co-ordinated Government policy approach to market competition aimed at bringing down the cost of insurance premiums, including for motor and home policies. Minister Fleming will report on its work to the Cabinet Committee Sub-Group on Insurance Reform. ....

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