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Rip off insurance premiums ‘a failure from Government and Central Bank’ – Lynn Boylan MEP

1 July, 2016 - by Senator Lynn Boylan

Dublin Sinn Féin MEP Lynn Boylan will address a rally taking place in Dublin tomorrow to protest against exorbitant car insurance costs.

Speaking today ahead of the rally, Ms Boylan said:

“The reality of rip off insurance is a disgrace and has been allowed develop by a government asleep at the wheel and questionable regulation from the Central Bank.

“It is a social issue as young people are forced off the roads and an economic issue because small businesses can't hire people to drive their vans.

“Mainly, it is a question of fairness. Insurers can't just pick quotes out of thin air that change from one day to the next and from one person to another. They need to be fair.

“The government wants to wash its hands off this issue. That is nonsense. The State makes people have car insurance so it can't walk away when those insurers rip people off.

“We know how the Central Bank failed to regulate banks properly and now we are seeing huge problems in the insurance industry, not just car insurance. Once again, it’s the ordinary Joe Soap who picks up the tab.

“If we were to believe the insurance industry, you and I are to blame for getting a 100% or 200% increase in our quotes. Why? I don't think Irish drivers have become more dangerous, I think the insurance companies are just jacking up their prices and any old excuse will do.

“Pearse Doherty TD, myself and the team of MEPs, our colleagues in Leinster House and Stormont will not let this issue lie. There has to be a rounded discussion regarding this matter. It is not sustainable to say that prices would tumble tomorrow if only we toughened up on fraud. Drivers have been made a scapegoat of for too long.”


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