Differential pricing must end according to Donegal TD

A Donegal TD says the practice of differential pricing must end.

This is the practice where insurance companies charge different customers different prices for the same goods or services.

The Irish independent reports that some over 70’s are being charged upwards of a thousand euro more for their car insurance compared to younger drivers.

An interim report from the Central Bank suggests this is affecting loyal customers.

Sinn Fein’s Pearse Doherty says legislation is to be brought before the Dail this Wednesday with the aim of making the practice illegal.

Speaking to OceanFM News, Deputy Doherty says over 2 million policyholders are affected in some way.

However, The Junior Finance Minister says banning differential pricing could do more harm than good.

Sean Fleming says banning the practice may not work.