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24/10/2021

Report shows there is no excuse for high insurance premiums, says South East TD

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Report shows there is no excuse for high insurance premiums - Cullinane

Report shows there is no excuse for high insurance premiums - Cullinane

Waterford TD and Sinn Féin spokesperson David Cullinane TD has said information released on Monday in the Courts Service's Annual Report "completely undermines the excuses for high premiums from insurance companies."

The reports shows a decrease in the number of personal injury claims and a decrease in the value of compensation awards despite claims to the contrary from insurance companies.

Speaking on foot of the finding, Deputy Cullinane said: “We learned last week at the Oireachtas Finance Committee meeting with insurance companies that the claims of hugely increased fraudulent claims are completely bogus and today we have learned that, not only are personal injury claims down, but the value of compensation awards is also down by 20%."

“At last week's Finance Committee, the representatives from the insurance industry were far from convincing when responding to questions from Sinn Féin’s Finance Spokesperson Pearse Doherty," the Waterford TD claimed.

“This report adds to their credibility and completely undermines the excuses for high premiums from insurance companies and it is high time that the excuses stopped."

"We need to see the return of affordable premiums from insurance companies.”

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