'Deeply worrying': Limerick TD Niall Collins
LIMERICK TD Niall Collins has described as 'deeply worrying' new figures which show a dramatic surge in the number of consumers who had to avail of the Insurance Ireland 'Declined Cases' facility having failed to secure a motor insurance quote in the market.
There was a record high of 1,941 cases in 2016, a 67% on 2015, which itself had seen an increased of 74% on 2014.
As recently as 2012, the number of cases had been as low as 178.
The Fianna Fáil Spokesperson on Jobs and Enterprise said: “Given that consumers only apply under the Declined Cases agreement if they have failed to get a quote in the market, these figures are symptom of a dysfunctional market at present.
“Insurance companies are becoming more and more selective in the profile of customers they want. Many older drivers, younger drivers, people with an open claim, taxi drivers, returning emigrants and motorists with older cars are among those who have fallen out of favour with many insurance companies.”
Dáil Éireann will next week debate a Fianna Fáil motion on the need for greater action to tackle the escalating insurance premiums faced by motorists but also the dramatic hikes many firms are facing for insurance cover for their business.