Loyalty penalty for boiler & heating cover ... what's the point of new anti price-walking regs?

Just had my renewal quote for boiler & CH cover from SSE ... £224. Went on Uswitch to see if I could better it and found exactly the same product (same name, same cover, same excess) for £153. Buried deep in the small print several clicks down was the statement that this price only applied to new customers. Hang on, I thought, insurers are not now allowed to charge existing customers more so phoned them and they were adamant that the new anti price-walking regulations didn't apply to them. They refused to requote at the lower price. Their argument was that, because I was an existing customer they knew all about my boiler and had quoted accordingly (which is bizarre if they were prepared to offer a lower price to someone they didn't know). Seems to me that's a loophole that any insurance company could use to avoid the new regulations, so I have to wonder if they're actually pretty toothless. 

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