Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

I thought I had heard of everything, but this is the first time I have heard of that happening. I will ask the officials whether they have been made aware of it. One criticism I have of the insurance sector concerns the arbitrary nature of the figures quoted to customers. On multiple occasions an arbitrary figure seems to have been plucked out of the sky. One man told me that his insurance premium had increased from €500 to €900. His broker told him that he could not get it any cheaper with the company. He then went to a different broker who contacted the same company and was quoted the original price. I cannot explain it. When I put the case to the insurance companies and asked them to explain it, they were unable to do so. There is an inconsistency which is creating a difficulty and adding to insurance costs. The global figures are decreasing. I always advise people to challenge brokers or insurance companies when premium costs jump to try to get the best possible price.

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