Frank O’Rourke TD has welcomed the Central Bank rules requiring insurers to give customers more information when renewing their policies which come into effect today
However Frank said more needs to be done to reduce the cost of insurance.
“Insurance companies will now have to provide details such as the premium paid the previous year with an upfront comparison. They will have will also have to provide the cost of different levels of cover, a comprehensive quote, a third party fire and theft quote, and one for third party only cover.”
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