Stock image: car insurance
Sinn Féin councillor, Caroline Mulvey, has described the recent raids on Irish Insurance companies by Irish and EU competition enforcement officials as a welcome move.
Cllr Mulvey told www.leitrimobserver.ie: “I welcome the action taken by the Irish Competition and Consumer Protection Commission and the European Competition Directorate in raiding Insurance companies over alleged price fixing in the Industry.
"The unfair and extortionate cost of car insurance is putting people off the road. In rural areas of Leitrim it is preventing people from accessing services and leading to isolation. For young people the high prices of premiums act as a barrier to finding and keeping a job, or accessing education or training.
“Irish motorists are at the mercy of this cartel, in particular young drivers who are being forced into debt in order to get insurance cover. Young drivers are now borrowing more money to insure a car than the car is worth.
“Sinn Féin TD’s including Martin Kenny have raised this issue time and again in the Dáil and I now hope that the investigation under way will uncover the truth and end the rip of culture that has being allowed develop over the years.”