Faster mortgage switching and the end of auto-renewals: Ireland's new consumer-protection rules

Consumers will no longer have their policies for travel insurance, gadget insurance, dental insurance, or pet insurance automatically renewed, unless they have provided their explicit consent. Picture: iStock

Earlier this year, the Central Bank announced new rules under its revised Consumer Protection Code, which protects consumers of financial products.

The review is needed. Much has changed since the last code was introduced, in 2012. The nature of financial services and how they are delivered are very different now, and the code needs to reflect this.