Insurance Europe has published its comments on a consultation conducted by the European Insurance and Occupational Pensions Authority (EIOPA) on its draft statement on differential pricing practices.

The industry remains committed to the financial inclusion and fair treatment of customers. In its paper, EIOPA outlines potential examples of what would constitute the unfair treatment of certain categories of customers. If evidence of unfair treatment is found, then such behaviour would rightly need to be addressed.

However, EIOPA’s decision to publish specific measures targeting pricing and commercial decision making would be unprecedented and must be treated sensitively to avoid calling on national insurance supervisors to overstep their specified mandates.

In response to the consultation, Insurance Europe has made some recommendations on key issues that should be considered, if action is to be taken in this area.