Oireachtas Joint and Select Committees
Thursday, 4 July 2019
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Insurance Sector: Discussion
John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source
Let me put it this way; if I go to my broker with whom I have done business for years and I have no claims, my taxi insurance is €6,000 but this year it is increased to €12,000 so I ask my broker what happened. I am a good customer who goes to him every year and I have not gone to any other insurance company. I want to know the reason my premium has increased by €6,000. Whether I get my insurance from a broker or directly from the insurance company, it goes back to the same point that was made, which is surely the person is entitled to an explanation, out of courtesy if nothing else, on the reason it has increased by so much. I do not want the witnesses to respond by putting it down to the market. That is fine, but what about the explanation for individual customers? Why is the industry reluctant to go down that road?
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