Oireachtas Joint and Select Committees
Thursday, 8 September 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Rising Cost of Motor Insurance: Discussion
11:00 am
Dr. Michael Gillen:
From our research, there was no evidence of cartel-like behaviour. In fairness, the point of a cartel is to make money and all of the evidence suggests the companies are losing money. I had not considered the competition angle, but the analogy I would use is a small country town with five shopkeepers all of whom are asked to announce to the entire populace how much they will charge for a chicken on any one day. If only one person states the price, a competitive advantage is immediately given to all of the others. My black-box concept would override this. I do not believe the Competition and Consumer Protection Commission is set up to do this type of work. I can understand it wanting to get its hands on it, but I do not necessarily-----
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