Ireland’s Aindrias Moynihan TD has asked Irish finance minister Paschal Donohoe about his views on the issue of insurance refusal when it comes to vehicles older than a decade, and the latter has reiterated where he stands on the matter.
“I am aware of the concerns raised by the Deputy and have considerable sympathy for them,” said Donohoe, referring to the affected car owners. However, he said neither him nor the Central Bank can interfere in the pricing and provision of insurance products, “as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.”
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