Letter to the Editor: Insurance sector lacks transparency

The insurance industry is ripping us off while the number of claims is falling, according to the Central Bank. The industry expects honesty from its policyholders, while unethically cutting their throats with over-the-top premiums. In some cases doubling the cost of insurance without the slightest justification for claim-free policyholders who are seldom rewarded for their no-claims status.

The cost of transferring insurance to another vehicle is the latest racket. There was a time when it cost nothing to transfer insurance to another vehicle, or between €15 and €25, but now it is getting close to €100 and past it for some vehicles.