Donegal TD says action on insurance industry welcome

A Donegal TD is welcoming raids by the Competition and Consumer Protection Commission on a number of insurance companies and brokers as part of an investigation into alleged price-fixing.

The Commission has declined to comment to Ocean FM News or say where the raids took place.

But Sinn Fein finance spokesman Pearse Doherty particulalrly praised the involvement of European agents in the raids which, he says, will help get to the bottom of the allegations.

He says there have been accusations of cartel-like behaviour between insurance companies and it’s now welcome that the competition watchdog had taken another step in ensuring competition in the marketplace.