Opposition politicians have demanded that insurance companies pass on premium reductions after it emerged compo claims have plummeted in value by 50% this year.
The savings of 50% would not result in a fall in premiums of 50% for consumers, because there are other costs, but industry experts estimate it could be in the region of 30%. He said the “pudding would be in the eating” and that they would be “calling out” the companies if they don’t pass on savings by the autumn.Sinn Féin finance spokesman Pearse Doherty is looking for the Government to act decisively, saying he “doesn’t trust” the big firms to pass on the savings themselves.
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