South Down MP Margaret Ritchie has urged the Competitors Commission to make sure that their report into the fees of personal car insurance is manufactured accessible soon, insisted that customers need to have reduce costs and accessibility to the insurance coverage marketplace.
Speaking to Newry Occasions, Ritchie said, “Over the final couple of many years numerous young people and older people have approached me relating to the truth that they have identified fantastic problems in accessing the insurance marketplace due to the substantial degree of charges.
“As a consequence, younger men and women have been unable to access jobs due to the need to have to drive a automobile, and it also prevents the mobility of older men and women, especially in rural communities. Higher costs of insurance have also had an influence on an economy struggling out of the downturn.
“Over 2 years ago, I had an Adjournment Debate in the Home of Commons concerning this matter in which I was suggested by the Treasury Minister, David Gauke MP that the matter had been referred to the Competitors Commission for investigation and possible avenues for resolution,” the nearby MP continued.
“At that stage, the Minister was hopeful that a report would be published into this matter at an early chance.
“This investigation has taken longer than expected. While this investigation has been prolonged, numerous folks have nonetheless told me that the price of private car insurance is even now an impediment to them getting ready to use a auto for job functions or for simple social mobility purposes.
“Time has now been named on this investigation by the Competition Commission – the expense of personal car insurance is still a major situation. There are barriers to entry for likely young drivers and older men and women as outlined in interim Competition Commission reviews.
Ritchie added, “I will be tabling inquiries in Westminster this week urging a resolution to be found to this matter which assures far more cost-effective entry factors for young and older folks to enter and continue to be inside the insurance coverage market place. Financial growth demands that better accessibility is afforded for all ranges of society to the personal car insurance industry.”