asked the Minister for Industry and Commerce whether he is aware that a particular insurance company (name supplied) has, in certain circumstances, been applying increases in motor insurance premium rates which are very much in excess of the increases agreed by him; and whether he has taken any action in the matter.
Ceisteanna — Questions. Oral Answers. - Motor Insurance Rates.
78.
I have been looking into complaints that increases in motor insurance rates which had been imposed, in particular, by the Sun Alliance and London Insurance Group, were excessive. I have had the matter discussed with the company which has explained the circumstances in which excessive increases were made in the particular cases which were the subject of complaint and has agreed to reduce the premium rates in these cases. I have asked the company for an undertaking that its portfolio of motor insurance policies will be reviewed in the light of the review carried out in conjunction with my Department of the individual cases I have mentioned and that where appropriate, the policyholder will be informed that he is now entitled to a reduction in his premium rate. I am at present awaiting the company's reply.