Motor insurance hikes - Time for the Government to hit brakes

The Irish motor insurance industry is out of control, hiking up premiums to levels never seen before, with little regard for private individuals or businesses that may be forced to close as a result.

As our report today shows, the worst example of insurance premiums gone mad concerns a Limerick businessman who has seen the total cost of insuring his eight taxis rise by 700% in a year.

The Government needs to step up to the mark and recognise that there is a crisis in the industry here and that hundreds of thousands of motorists are being quoted astronomical premiums.