Justice Minister: Continuous insurance hikes threatening livelihoods
Justice Minister Charlie Flanagan has said the insurance industry needs to do more to address the cost of premiums.
Mr Flanagan said that the constant hiking of costs are threatening livelihoods and is calling for reform.
He said the profits of the top ten biggest insurance companies were up 200 million in 2017.
Insurance Ireland's Declan Jackson agrees that the current situation needs to be changed.
He said: "We would support the calls for reform of Irish claims costs and we believe that if these are brought through as a matter of urgency, they will bring a normalisaiton to the market which is greatly needed."
