Drivers with clean records ‘exploited’ by insurers

Car owners with clean driving records have been exploited by the motor industry which has engaged in “cartel-like” activity, a high-powered Oireachtas committee has found.

Motorists hit with up to 300% insurance hikes have been “thrown to the wolves” of the insurance sector by state institutions which are charged with protecting them, an Oireachtas Finance Committee report found.

As revealed in the Irish Examiner last week, insurance companies were heavily criticised by the report which states that a “closed mentality” and unwillingness to share data is a contributory factor to the recent rise in motor insurance premiums.