Report finds most insurers charge different prices for the same risk 

Complexity means there is a tendency to believe it is easier to stay with a current provider rather than switch 

The report found that the complexity of insurance means most consumers have a limited knowledge of how the industry operates. Picture: iStock

Irish consumers prefer to stay with their existing insurance provider and are worse off as a result a report from the Central Bank has found.

The interim report confirms that most insurance companies apply some form of differential pricing, offering discounts to new customers or those who negotiate on price.