Oireachtas Joint and Select Committees
Wednesday, 26 May 2021
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Developments in the Insurance Industry: Discussion (Resumed)
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
Not only have people given us their policy documents they have also given us their comments. One individual saw the premium increase from €850 to €880. When asked for views on this, the person said that it is extortion, that the prices are way too high for customers who prefer to stay with one company, that they get punished for doing so and that there is no loyalty. When asked for views, another of the 132 AXA customers who saw the premium increase from €800 to €850 said it was a rip-off and having been a loyal customer for years got no loyalty back. The person was able to get insurance €300 cheaper with more added on and will never go with AXA again. This person, who was a customer of AXA, was a victim of dual pricing. The person was a customer of AXA for nine years and saw the premium increase by €50 at a time Mr. Bradley is telling us average premiums should be decreasing by 12%. Are people being punished for their loyalty?
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