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Government must stop blocking action on rip-off insurance costs – Mary Lou McDonald TD

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Sinn Féin President Mary Lou McDonald has criticised the Government for blocking passage of her party’s Consumer Insurance Contracts Bill, which will bring the insurance industry to heel and reform the law in respect of insurance contracts.

Ms McDonald was speaking in the Dáil following the announcement that the European Commission is to undertake a formal investigation into Insurance Ireland’s data pooling system.

The Sinn Féin President said:

“This announcement will be welcomed by motorists across the State who are being crippled by the increased cost of car insurance.

“But this is not just an issue affecting motorists. Rip-off insurance rates are impacting on people from all walks of life; on businesses, on farmers, on marts and on community festivals up and down the country.

“It beggars belief that it has taken the European Commission to step in when it is clear that insurers have been ripping off policy holders for years and the government have consistently refused to act.

“Sinn Féin’s Consumer Insurance Contracts Bill recently received unanimous backing in the Dáil. This Bill seeks to reform and modernise the law in respect of insurance contracts and bring the insurance industry to heel.

“Since that Bill passed the government has stymied progress and blocked it from going any further. They have dragged their heels on this issue for too long.

“The government must allow this Bill to progress, ensure it is passed and finally act decisively in the interests of policy holders.”

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