Pearse Doherty to bring Insurance Reform campaign to Monaghan
Sinn Féin to host public meeting on Thursday 28th November
Sinn Féin Finance Spokesperson, Pearse Doherty, who has been spearheading a campaign calling for Insurance Reform, will address a public meeting on Thursday 28th November, at 8pm in the Four Seasons Hotel, Monaghan.
This is the latest in a series of campaign events that Deputy Doherty has held across the state in his bid to reform the insurance industry and end the rip-off of individuals, businesses and families.
Pearse Doherty has been to the forefront of highlighting the practises of the insurance industry which rip off many families and have actually resulted in the closure of several businesses. Several of his contributions in the Oireachas Finance committee have ‘gone viral’ as it had insurance executives on the ropes with probing questions. This week it was announced that, on the back of Doherty’s work, the Central Bank has agreed to conduct a review into the practise of ‘dual pricing’ which is the mechanism insurance companies use to overcharge existing loyal customers.
The meeting in the Four Seasons will be addressed by Pearse Doherty who will outline his full proposals to tackle the extortionate costs of insurance throughout the state for businesses and ordinary consumers. The meeting will also be attended by local Sinn Féin representatives Caoimhghín Ó Caoláin TD and Matt Carthy MEP. Crucially the meeting will provide an opportunity for people in Monaghan to tell their own stories of interactions with the insurance industry and to give their own perspective as to how it can be addressed.
Announcing details of the public meeting this week, local Sinn Féin MEP, Matt Carthy, said:
“Insurance costs have become extortionate, ripping off consumers and closing down businesses. Since 2016 Fine Gael have sat back in the face of rising insurance costs while Fianna Fáil have let them off the hook.
“The insurance industry tells us that fraudulent claims and the cost of personal injury awards are causing premiums to rise. But through the work of Pearse Doherty we know that their figures don’t add up. Despite the total number of motor insurance claims reducing by 22% between 2014 and 2017, the average motor insurance premium has increased by 53% between 2013 and 2017.
“Premiums are rising. The only other thing that is rising are insurance company profits. Pearse Doherty is leading a campaign to take on the industry and end the rip-off. The policies and legislation that he has produced on behalf of Sinn Féin would stamp out fraud, protect consumers, ban price discrimination and reduce premiums for everyone.
“Only this week, Pearse successfully campaigned for the Central Bank to open up an investigation into price discrimination by the insurance industry.
“The meeting in the Four Seasons Hotel, Monaghan on the 28th November is one of several engagements across the state where Pearse Doherty has been meeting with the public to discuss Sinn Féin’s plan to tackle insurance costs and end the rip-off.
“We want to hear from people in County Monaghan who are being affected by high insurance costs so that we can work to stop it.
“We will be talking about Sinn Féin’s plan to set up a Garda Insurance Fraud Unit to tackle insurance fraud when and if it takes place and ban Dual Pricing by the Insurance Industry.
“Also, we’ll be discussing Pearse’s Consumer Insurance Contracts Bill law which, if enacted, proposes to abolish Premium Levies and put €230 million back in consumers’ pockets while also introducing State Intervention to address the market failure.
“The issue of insurance is such a huge one and affects the lives of ordinary people and businesses alike throughout counties like Monaghan, so therefore it’s important that we see a large turn out at this event as part of Sinn Féin’s ongoing campaign to end the Insurance Rip-Off.”