All is not well in the Irish insurance industry

It’s long past time for deeper dive into workings and culture of insurance industry

You would have to wonder why the insurers agreed to sign up to legally binding agreements with the CCPC if they hadn’t broken the law.  Photograph: Getty

You would have to wonder why the insurers agreed to sign up to legally binding agreements with the CCPC if they hadn’t broken the law. Photograph: Getty

It’s a curious thing that the competition authority and the insurance industry were claiming a triumph of sorts last week following a five-year investigation into alleged price signalling by the insurers.

On one side, the Consumer and Competition Protection Commission (CCPC) announced that it had secured legally binding commitments from six leading motor insurers in the Irish market to “reform their internal competition law compliance programmes”.

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