Calls on Government to give real urgency to transparency
The Alliance for Insurance Reform has reacted with dismay to the announcement by the Central Statistics Office that they have abandoned a project to track the cost of insurance for businesses and voluntary groups.
Peter Boland, director of the Alliance said “Since the Central Bank abolished the Blue Book in 2015, there has been absolutely no data oversight of the Irish insurance market for businesses or voluntary groups. While the work of the National Claims Information Database on motor insurance is welcome and has been a revelation, small businesses, charities, sports & cultural organisations and community groups have no clarity as to why their premiums have rocketed in the last 5 years, to the extent that many are faced with not being able to afford to reopen post-Covid19.
“The NCID is due to publish its first liability report ‘in the first half of 2021’. We urge the newly-formed Government Cabinet Sub-Group on insurance reform to ensure that this happens early in the year, not in June 2021. There must be nowhere to hide for the vested interests who have used this data void so much to their advantage over the last 5 years. Transparency is matter of absolute urgency now.”