“Keep your eyes on Irish Insurers” – MacManus warns EU

Sinn Féin MEP Chris MacManus has told the EU Commission to keep its eyes on Irish insurers. Speaking from Strasbourg in a debate on Motor Insurance MacManus said insurance premiums must drop after pay-outs dropped by 40% and that both Irish and EU authorities must make sure this happens.

The Midlands Northwest MEP said:

“We must assert the right of Irish drivers to see reductions in their premiums now that pay-outs have dropped by 40%. In June of this year the Commission made a preliminary finding of anti-competitive practice among Irish insurers, something blindingly obvious to a lot of us a for a long time.”

“I want to say to the Commission today ‘keep your eyes on the Irish insurers’. If we don’t see reductions in premiums commensurate with the reduction in pay-outs I will be knocking on the Commission’s door again on behalf of Irish drivers.”

After his parliamentary address MacManus doubled down on his sentiments insisting that Irish customers must see immediate benefits. “I cannot over-emphasise how important it is that Irish drivers see a drastic reduction in premiums. There are tens of thousands of drivers in rural Ireland who don’t have the ability to access public transport who rely solely on privately owned vehicles. This also affects many young people who were being priced out of any ability to insure a vehicle for work or education needs.”

MacManus concluded by noting the progress his party colleague Pearse Doherty has achieved at home and pledged Sinn Féin’s ongoing commitment to the campaign at all levels.

“Domestically, Pearse Doherty has tabled legislation to make sure this happens and Sinn Féin in Europe will make sure that we keep Brussels informed. Given that their investigation is still ongoing I am sure the Competition Commissioner will be interested to see how prices are affected by the policy changes made. There can simply be no more excuses; premiums must drop quickly and dramatically.” ENDS