Today, my colleague Deputy Pearse Doherty Sinn Féin is bringing our Insurance Contracts Bill to the Dáil.
If it becomes law, every customer would be notified of the last three years of premiums they have paid and any claims they have made. It will make it harder for companies to wriggle out of paying valid claims and makes sure that customers are told about any claims being made against their policy, allowed to provide evidence and given the cost of any claim that is settled.
Any company that cancels your policy will have to pay you back what it owes for the premium you paid, and it will allow you to seek damages if your insurer refuses to pay you for a valid claim.
In short, it would increase transparency and tip the balance in favour of the customers.
This legislation would be a big win for all of us, and we are urging all parties to support it becoming law.
Sinn Féin want to take on the insurance industry and end the rip-off by stamping out fraud, protecting consumers, banning dual pricing and bringing down premiums. Today’s legislation is a part of that work.