Ferris and Daly to Host Public Meeting on Reform of Insurance Industry

Cllr. Pa Daly (left) with Sinn Féin spokesperson on Finance and Public Expenditure and Reform, Pearse Doherty, TD and Martin Ferris, TD. Cllr. Daly and Deputy Ferris will host and address a public meeting in Listowel as part of the party’s campaign of reform for the Irish insurance industry.

Sinn Féin TD Martin Ferris along with Cllr Pa Daly, will address a public meeting in Listowel on Thursday 28th November at 8pm in The Three Mermaids on the Sinn Féin campaign to reform the insurance industry.

Spearheaded by Pearse Doherty
This is the first in a series of campaign events that Sinn Féin in Kerry are holding and are part of a wider statewide campaign which has been spearheaded by Sinn Féin Finance spokesperson Pearse Doherty, to reform the insurance industry and end the rip-off of individuals, businesses and families.
RIP-Off Culture
Pearse Doherty has been to the forefront of highlighting the practises of the insurance industry which rip off many families and have actually resulted in the closure of several businesses.

Last week it was announced that, on the back of Doherty’s work, the Central Bank has agreed to conduct a review into the practise of ‘dual pricing’ which is the mechanism insurance companies use to overcharge existing loyal customers.
Address by Ferris and Daly
The meeting in the Listowel Arms Hotel will be addressed by Martin Ferris, TD and Cllr. Pa Daly who will outline Sinn Féin’s full proposals to tackle the extortionate costs of insurance throughout the state for businesses and ordinary consumers.

The meeting will also be attended by local Sinn Féin councillors Tom Barry and Robert Beasley.

Voicing Kerry’s Insurance Stories

Crucially the meeting will provide an opportunity for people in Kerry to tell their own stories of interactions with the insurance industry and to give their own perspective as to how it can be addressed.
“Insurance costs have become extortionate, ripping off consumers and closing down businesses. Since 2016 Fine Gael have sat back in the face of rising insurance costs while Fianna Fáil have let them off the hook,” said Cllr. Pa Daly while announcing details of the Listowel meeting.
Figures Not Adding Up
“The insurance industry tells us that fraudulent claims and the cost of personal injury awards are causing premiums to rise.

“But through the work of Pearse Doherty we know that their figures don’t add up.

“Despite the total number of motor insurance claims reducing by 22% between 2014 and 2017, the average motor insurance premium has increased by 53% between 2013 and 2017.
Tackling the Rip-Off

“The meeting in the Listowel Arms Hotel on the 28th November is one of several engagements across the state where Sinn Féin representatives have been meeting with the public to discuss Sinn Féin’s plan to tackle insurance costs and end the rip-off.
“We want to hear from people in Kerry who are being affected by high insurance costs so that we can work to stop it.
Garda Insurance Fraud Unit
“We will be talking about Sinn Féin’s plan to set up a Garda Insurance Fraud Unit to tackle insurance fraud when and if it takes place and ban Dual Pricing by the Insurance Industry.
“Also, we’ll be discussing our Consumer Insurance Contracts Bill law which, if enacted, proposes to abolish Premium Levies and put €230 million back in consumers’ pockets while also introducing state Intervention to address the market failure.
“The issue of insurance is such a huge one and affects the lives of ordinary people and businesses alike throughout counties like Kerry,” Cllr. Daly concluded.