Fianna Fáil’s finance spokesperson Michael McGrath has said that the Government needs to accelerate reform of the insurance industry in Ireland.

The European Commission is formally investigating whether Insurance Ireland is reducing drivers’ choice of insurance policies by preventing companies from being included in a pool of firms offering cover.

Significant breaches of data protection legislation have been uncovered in the insurance sector.

THE increasing cost of claims facing insurers is the primary cause of rising premiums, according to Irish Insurance Federation chief executive Michael Kemp.