Government asleep at wheel on motor insurance rip off - Lynn Boylan MEP
Sinn Féin MEP for Dublin Lynn Boylan has said the Government is asleep at the wheel at what she called rip off being perpetrated by the motor insurance industry.
Boylan was addressing a major rally in central Dublin today to protest against the rise in motor insurance costs, which was attended by motorists from all across the state.
Lynn Boylan said:
“The Irish motor insurance rip off has been allowed to happen with a Government asleep at the wheel and questionable regulation from the Central Bank.
“The State makes people have car insurance but thinks that it can turn a blind eye to the rip off that is rampant in the industry.
“For months and months they told us they had set up a review but only last week Michael Noonan confirmed to Sinn Féin’s Pearse Doherty TD that they haven't even started looking at the reasons for this increase.
“Meanwhile, young people are being forced off the roads and small businesses can't afford to hire people to drive their vans.
“These increases are no more about fraud or legal fees than they are about the weather or football.
“There is no evidence that there is more fraud this year than last, just like there is no evidence that there are higher payouts.
“This is a case of companies losing money on speculation and making us pay for it.
“Well, the Irish people have had enough of carrying the debt of others.
“We have had enough of light touch regulation from the central bank.
"We have had enough of ‘Rip Off Ireland’.
“Sinn Féin will continue to work to get to the truth. We will continue to fight for a system that can’t rip people off - a system where insurers have to explain any increase in policy.
“Today the message is clear to Michael Noonan to the Central Bank and to the insurance companies - we have had enough and there were will be no chance of us driving off into the sunset on this one.”