Oireachtas Joint and Select Committees

Thursday, 6 October 2016

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

Rising Costs of Motor Insurance: Discussion (Resumed)

10:00 am

Dr. Cyril Roux:

Actors have to follow suit, at least to some extent. The sound way to bring premiums down is to bring claims down. We cannot see that inordinate profits are being made in insurance. We welcome the review that has been started by Competition and Consumer Protection Commission, CCPC. The Chairman asked earlier if insurers are working as a cartel. That is a matter for the commission to inquire into, which it is doing. We are ready to assist it in its inquiry.

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