Oireachtas Joint and Select Committees

Thursday, 15 September 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Rising Cost of Motor Insurance: Discussion (Resumed)

11:00 am

Mr. Patrick Kenny:

This is a case that other agencies, including the European Commission, have taken in industries. As a joint consumer and competition agency, we also see it as bad in the sense that it reduces consumer resistance to price rises. The average consumers hear prices are going up X% in whatever market and then they ask themselves why they should look around. My colleagues will elaborate later on the topic of switching. Active switching is the only way consumers can protect themselves in this type of market.

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