A Minister has warned insurance companies he will not accept their “repeatedly loading premiums” on businesses while at the same time generating significant profits. Minister of State with special responsibility for financial services and insurance Michael D’Arcy said these companies are “having their cake and eating it”. Mr D’Arcy said the data showed that insurance costs had come down by 23 per cent but the insurance companies “are increasing profits by repeatedly loading premiums on companies. Mr D’Arcy said he believed “most people in the House would agree that it is very difficult to justify such behaviour in an environment where significant profits are being made. “It is possible that some insurance companies would provide lower quotes than they would to ordinary consumers.

Source: The Irish Times March 13, 2019 21:06 UTC