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Car(tel) Insurance

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    #32
    Antar Bolaeisk
    Registered Users Posts: 3,091 ✭✭✭Antar Bolaeisk


    Samuel T. Cogley wrote: »
    Yes and it was inevitable they would once certain factors where no longer in play. Hopefully, but I'm not holding my breath, this investigation will quicken the pace.

    One has to then ask the question if legal fees and fraudulent claims are such a massive part of the problem, and the main focus of blame that the insurance companies would like the punter to look at, how can there be this cyclical market? More is at play here.

    Fees will probably increase to cover all the fines levied against the involved companies and to pay for the ensuing legal challenges.


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    #33
    ohnonotgmail
    Registered Users Posts: 40,209 ✭✭✭✭ohnonotgmail


    Wasn't it revealed that the investigation is actually to do with insurance for hauliers and is nothing to do with private car insurance?


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    #34
    Samuel T. Cogley
    Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    ohnonotgmail wrote: »
    Wasn't it revealed that the investigation is actually to do with insurance for hauliers and is nothing to do with private car insurance?

    It's not entirely clear yet apart from that haulage is one area and new entrants (to all insurance) is another.
    Separately, the European Commission raided the offices of Insurance Ireland on Tuesday as it assesses concerns over access to two databases used by insurers in the Republic. This is believed to have been on foot of a complaint or series of complaints from would-be new entrants to the market about their ability to tap into information on these systems.

    It maybe that Lux called this one correctly, but of course new entrants would mean more competition, however one can almost see why they'd try and block new entrants after the last price war fiasco which is actually what's been leading to higher premiums in the main.


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    #35
    Lux23
    Registered Users Posts: 7,134 ✭✭✭Lux23


    Wibbs wrote: »
    So entirely avoiding the whole bad investments by insurance companies part then? And the lack of transparency. And the "cartel-like behaviour" as reported by a government investigation over a year ago and the latest government and EU investigations culminating in early morning raids on insurance company premises? Ah yea, defo all the motorist's fault. Here's my smily face. :rolleyes:

    One thing I am sorry to point out is that Government investigation comment will tell you nothing - the TD who said that in the report has no idea what cartel is. If they did, they wouldn't say cartel-like!


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    #36
    John108679908
    Registered Users Posts: 9 ✭John108679908


    Has anyone ever looked at the insurance system in Australia?
    The state in Australia is obliged to provide car insurance to it's citizens.
    Someone told me last week that he was paying 150euro every year for car insurance. Came back from Australia and because he told them he was abroad they quoted him 5000, said he was probably going to go back there due to that crap.
    The permanent government ie county council and co. don't want a large working class population in this country, simply because they'd be hung from lamposts, like they were in Russia during the revolution.
    I have farmers telling me that they're being asked for 15,000 by the planning authority just to have an extra entrance onto their farms.
    They're also being charged 1000euro's for having an extra car on their property.
    People are being extorted for money that they have worked quite hard for.


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    #37
    Samuel T. Cogley
    Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    John108679908 wrote: »
    Has anyone ever looked at the insurance system in Australia?
    The state in Australia is obliged to provide car insurance to it's citizens.
    Someone told me last week that he was paying 150euro every year for car insurance. Came back from Australia and because he told them he was abroad they quoted him 5000, said he was probably going to go back there due to that crap.
    The permanent government ie county council and co. don't want a large working class population in this country, simply because they'd be hung from lamposts, like they were in Russia during the revolution.
    I have farmers telling me that they're being asked for 15,000 by the planning authority just to have an extra entrance onto their farms.
    They're also being charged 1000euro's for having an extra car on their property.
    People are being extorted for money that they have worked quite hard for.

    Translation: Perfectly sensible solution put forward by the New Zealanders I believe, but I take your word for it that it's also done in Aus - the State picks up the tab for compensation for run of the mill matters, no doubt funded by the insurance companies - however the large one off payouts (and temptation for fraud) are reduced/removed.

    The rest though was quite an odd political rant.


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