Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

However, what we want to see is a significant improvement in insurance costs, not just moderation.

The Competition and Consumer Protection Commission advised the Department of Finance that the raids in question were not connected to its current investigation of the motor industry. In addition, a press release from the European Commission stated:

The European Commission can confirm that [on 4 July 2017] its officials carried out unannounced inspections at the premises of companies active in motor insurance in the Republic of Ireland.

The Commission has concerns that the companies involved may have engaged in anti-competitive practices in breach of EU anti-trust rules that prohibit cartels and restrictive business practices and/or abuse of a dominant market position.

The Commission officials were accompanied by their counterparts from the Irish Competition and Consumer Protection Commission.

Unannounced inspections are a preliminary step into suspected anti-competitive practices. The fact that the Commission carries out such inspections does not mean that the companies are guilty of anti-competitive behaviour nor does it prejudge the outcome of the investigation. The Commission respects the rights of defence, in particular the right of companies to be heard in any [anti-trust] proceedings.

There is no legal deadline to complete inquiries into anti-competitive conduct. Their duration depends on a number of factors, including the complexity of each case, the extent to which the companies concerned co-operate with the Commission and the exercise of the rights of defence.

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