Maurice Quinlivan (Limerick City, Sinn Fein) | Oireachtas source

As I said, insurance costs are a major issue for businesses across the country. I do not believe, and most of those businesses tell me they do not believe, that the Government is grasping the situation with the urgency needed. People are paying scandalous amounts for premiums that have no correlation whatsoever to their claims or costs. Information I recently received from the Competition and Consumer Protection Commission, CCPC, shows that it received more than 1,200 complaints about motor insurance last year alone.

Insurance costs are impacting on both employees and their employers. I appreciate there has been some movement on the problem of fraudulent claims, and this is welcome. Fraudulent claims alone, however, are not the cause of large premiums. I am afraid this argument is now providing the insurance industry with a scapegoat as to why it is increasing premiums. The industry needs to be challenged on its behaviour and this is clearly not happening. The lack of transparency is astonishing, with businesses left bewildered at the premiums they are quoted. There is no explanation for that whatsoever. Are there plans to address this point, force these companies to be more transparent and ensure consumers are not ripped off by insurers?

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