Donegal TD calls for dual pricing in insurance to be made illegal

A Donegal TD is calling for the practice of dual pricing in insurance to be made illegal.

Sinn Fein Spokesperson on Finance, TD Pearse Doherty, says the practice has already been made illegal in 17 American States.

It involves insurance companies using studies that delve into customers behavioral attitudes, such as how likely they are to fight quotes, if they will likely renew and even creating additional charges on top of a premium to boost profits.

Deputy Doherty met with the Competition and Consumer Protection Commission this morning requesting an immediate investigation into the practice.

He says some people are being charged upwards of 180% more than they should be.

He went on to say that the Central bank is to carry out their own investigation into the matter, and he is calling on ‘price gouging’ to be banned.