Insurance Pricing & Renewal

Insurers must provide clear, fair and not misleading information about renewal terms, including what constitutes a change that could affect the renewal price.

An insurer has no obligation to renew a policy, but must not provide false reasons for non-renewal.

Insurers may adjust renewal premiums based on claims inflation and refreshed pricing models without treating consumers unfairly, even when individual risk profiles remain unchanged.

Insurers have commercial discretion to assess risk and set premiums based on their own underwriting methodology, and they are not required to disclose commercially sensitive pricing models.

Insurers may adjust premiums based on legitimate underwriting factors including age, claims inflation, and veterinary cost increases, provided pricing is applied consistently and consumers are informed of potential increases.

Insurers may charge different premiums for different policy types (continuing cover vs moratorium policies) provided they treat existing policyholders consistently with their internal guidelines and do not arbitrarily single out individuals

Insurers have commercial discretion in pricing decisions, and the ombudsman can only assess whether a consumer was treated fairly or less favourably than others, not whether the price itself is reasonable.

Insurers have discretion to set insurance premiums based on their commercial risk assessment, provided they treat all customers in similar circumstances fairly and consistently.