DYSFUNCTIONAL MOTOR INSURANCE MARKET NEEDS GOVERNMENT INTERVENTION – NIAMH SMYTH

8 February 2020 No Comments by The Northern Standard

Outgoing Fianna Fáil TD for Cavan/Monaghan and General Election candidate Niamh Smyth said this week that the Government needed to get serious about dealing with the dysfunctional motor insurance market. “A recent Central Bank report confirmed that the cost of claims per motor insurance policy fell by 2.5% since 2009 while on average motor premiums increased by 42% over the same period,” she stated.

“The Government are behaving as if an epiphany occurred when the National Claims Information Database confirmed what we have known all along, that motorists have been the ones to suffer from a lack of claims data. FF have been calling for the establishment of this database for years, so that claims can be tracked over time, but Fine Gael dragged their feet on it. “Understanding the trends surrounding claims will have had many benefits for consumers and for….

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