New laws to 'significantly strengthen' consumer watchdog after insurance probe

The Competition and Consumer Protection Commission's (CCPC) probe took place over five years and preliminary findings indicated reasonable grounds to suspect that competition law had been broken between 2015 and 2016.

The Government has welcomed the outcome of an investigation by the competition watchdog into alleged price signalling by motor insurers, saying premiums must now fall, although the Opposition said the decision not to take legal action against the insurers involved was a blow to consumers.

And, the Tánaiste has confirmed, the Government is to "significantly strengthen" the powers of the consumer watchdog by the end of the year as part of its overall commitment to insurance reform.