MIJAG welcomes insurance moves ... but
30 July 2002: The Motor Insurance Justice Action Group (MIJAG) has welcomed the news of the implementation of the first recommendations of the MIAB report on the industry, which criticised the insurance companies here for making too much profit, particularly on young driver premiums.
But the organisation advises its supporters to be 'weary' of statements such as the one from Dorothea Dowling, the chairperson of the MIAB, who claimed that motor insurance premiums would drop by 50% if the MIAB report is implemented in full over the next five years.
"As one person put it even if this was to happen, half of an 8,000 euro premium is 4,000 and allowing for increases while the report is being implemented it will at best drop to 6,000," a MIJAG spokesman said. "In other words we are still talking lottery numbers when it comes to something as simple as motor insurance."
MIJAG says the MIAB report should be implemented as soon as possible and says the organisation will continue to keep the pressure on and will participate fully in the huge amount of media debate that continues to rage around the issue.
July 2002