Ah, it’s been a while since I had a rant about insurance… A recent equality survey with respect to financial institutions (insurance and banking) publised by the CSO was rejected yesterday by the so-called Financial Services Ireland body (part of IBEC). It was said that the figure should not be used to present a “wholly unjustified and inaccurate picture” of the sector. Insurance companies are walking a very tight line in Ireland with respect to discriminating against age – very minor loopholes are responsible for them currently getting away with it. My call has been and always will be to make insurance individual. Classification against age should be abolished. Decisions cannot be made based on the colour of skin or selection of creed so why is yet another uncontrollable factor allowed to be? Would it be because foreign companies dominate the Irish insurance market and the government is afraid to regulate and loose investment? It is public knowledge, the ridiculous profits made by insurance companies. Surely this indicates that premium intake is massively in excess of claim outgoings? Wake up Ireland! source:Irish Times
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