Donegal Deputy Pearse Doherty is bringing legislation before the Dail today which if passed would force insurance companies to pass any savings onto customers.
The Judicial Council (Amendment) Bill 2021 would require the insurance industry to provide information to the Central Bank outlining how the cost of claims has reduced as a result of the new Personal Injuries Guidelines and how savings have been passed onto customers.
A study carried out by Sinn Fein found that 58% of people who received a renewal quote since the guidelines came into practice saw their premiums increase.
The Sinn Fein Finance Spokesperson says it’s evident that nothing has changed within the industry:
