Pearse Doherty (Donegal, Sinn Fein)
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A total of 59% of the 132 AXA customers who have been in contact with me, who Mr. Bradley says are not being punished for their loyalty, have seen a premium increase at a time generally when premiums are decreasing and should be decreasing. As a result of the personal injury guidelines, premiums should further decrease, as the insurance industry told us, by up to 20%. The industry told us we should be asking serious questions if we do not see this. Mr. Bradley is the CEO of one of the biggest insurance companies for motorists in the country. He is speaking about a 12% decrease, which brings in a number of factors including the fact there is less traffic on the road as we still have restrictions. Where is the 20% decrease as a result of the personal injury guidelines? The fact is these claims have been slashed, by up to 60% in some cases. Why are we not seeing the reduced cost of claims being passed on to consumers euro for euro? Any saving is beneficial, and we welcome it, but do we not need to see every cent saved from reduced awards being passed on to consumers instead of going into the pockets of companies such as AXA?