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4th July 2017
01:49pm BST
Pearse Doherty, Sinn Féin's finance spokesperson, welcomed Tuesday morning's developments: "I welcome news this morning of raids being carried out by Competition Enforcement officials investigating possible cartel behaviour. This is good news for consumers that concerns I have voiced for some time about cartelism now are being taken seriously.
“The dramatic spikes in insurance prices across the board, and the fact that the Central Bank has accused the insurers of providing false information to it, point to sound grounds for investigation. The industry has been warned before about price signalling.
“The news this morning will offer hope to drivers and others reliant on insurance that there is some protection for them even if it is coming very late in the day.”
A spokesperson for the CCPC refused to comment on Tuesday morning's reports. Insurance Ireland said a statement would be issued later in the day.Explore more on these topics:
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