Drivers should shop around for better deal

The survey by the Irish Financial Services Regulatory Authority (IFSRA) of the cost of motor insurance vindicates the charge that motorists are being fleeced by some sectors of the industry.

Published yesterday, it shows that there is something radically wrong by the fact that the cost of motor insurance can vary by an astronomical 500%.

A separate report covering Europe, showed that Irish bank customers are being squeezed by the financial institutions across a range of services, to a much larger extent than their European neighbours.