Donegal Deputy Pearse Doherty has accused insurers of exaggerating the number of fraudulent claims to justify the rising cost of premiums.
The CEOs of AXA, Allianz and FBD which represent almost half of the Irish market were before an Oireachtas Committee today.
Despite the introduction of reform, the cost of premiums for consumers and businesses has not decreased.
Allianz chief Sean McGrath told the committee that the cost premiums will fall if more was done to tackle fraud.
But he said he couldn't commit to how much premiums would fall by: