Frank O'Rourke (Kildare North, Fianna Fail) | Oireachtas source

This is a fact. I am frustrated at the prospect of our even trying to square everything. How can this be squared against what the companies are claiming are the reasons for increasing a person's premium? If it has increased for one of the unacceptable and ridiculous excuses that the insurers have been trying to give in recent years, why are they able to offer a premium of nearly €300 less for another member of the same family? It does not stack up because it is not true or transparent. The companies are operating in this way because they believe that they have free rein to charge anything they want, which they are. I am happy to be challenged on this in any way.

Mr. O'Rourke stated that there were approximately five main insurance companies operating in buildings.

Many people now operate businesses online and that is fine. There is no issue with that. If it brings about better competition and insurance rates, bring it on. I have strongly advocated that we should be opening up the insurance market and doing what we can for European countries coming in to give the customers a better deal, as they are being absolutely conned now. I will not use another word but what is happening is unfair. Surely the country of origin of those companies should have compulsory regulation of the companies. If they get many customers here over the course of a year or 18 months and leave a legacy, there should be some clawback. Is such a system in place and what can be done to ensure it is in place? It would certainly help in opening this to the European Union.