Watchdog ‘has not’ investigated motor insurance costs

The country’s consumer protection watchdog has not taken any action to investigate the soaring cost of motor insurance despite hard-pressed businesses and consumers facing huge increases over the past 18 months.

The Competition and Consumer Protection Commission (CCPC) has confirmed that it has not looked into the rapid premium increases being felt by motorists across the country as it would not be the best use of its resources.

Motor insurance costs have surged 35% higher in the past year and more than 60% since January 2014.