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Claims Of Collusion In Insurance Industry Denied

A local insurance provider is denying there are deliberate efforts being made to drive up the price of car insurance. 

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Clare Councillor have asked the Competition and Consumer Protection commission to investigate whether companies had colluded with each other, saying that premiums have risen by over 20% in the past year.

However, in a letter, the Commission says the complaint has been reviewed, but that there are no grounds for taking further action at this time.

Managing Director of Munster Group in Ennis, Padraic McNicholas, says a number of factors, including the number of claims and levels of fraud, influence the price of premium and he's sceptical that price-fixing could be occuring. 

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