CCPC Fines Three Insurers for Misleading Practices

The Competition and Consumer Protection Commission (CCPC) has taken enforcement action against three major insurance providers operating in Ireland, issuing combined fines exceeding €2.8 million for misleading renewal practices. The investigation, which began in late 2024, found that the three firms had systematically failed to provide clear and accurate information to consumers at renewal time, in breach of the Consumer Protection Act 2007 and the Consumer Insurance Contracts Act 2019.

The core issue was “price walking” — the practice of gradually increasing premiums for loyal customers while offering lower rates to new customers for the same level of cover. While the Central Bank’s regulations have targeted this practice, the CCPC found that the three firms had circumvented the rules by restructuring their products at renewal to appear different from the original policy, thereby avoiding the requirement to show a like-for-like price comparison.

The CCPC’s Chairperson stated that the enforcement action sends a clear message: firms that attempt to work around consumer protection rules through creative product restructuring will be held accountable. The three firms have been directed to refund affected customers, with the total redress programme estimated at €4.1 million covering approximately 23,000 policyholders who were overcharged over a two-year period.

For consumers, this case highlights the importance of scrutinising renewal notices carefully and never automatically accepting a renewal quote. If you believe your insurer has engaged in misleading practices, you have the right to complain to the company directly, escalate to the Financial Services and Pensions Ombudsman, or report the matter to the CCPC. Keep copies of all renewal correspondence and previous policy documents, as these will be essential evidence if you decide to pursue a complaint.