Officials from the Competition Watchdog have raided a number of insurance companies and brokers as part of an investigation into price fixing.
Officers from the Competition and Consumer Protection Commission carried out the raids this morning after an investigation was launched last year into the industry amid concerns that companies were openly signaling price increases in breach of competition law.
Donegal Deputy Pearse Doherty has welcomed this news, he says people in Donegal are only too aware of the dramatic increase in insurance premiums this ‘cartel like’ behaviour has caused:
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