{"id":7614,"date":"2016-09-13T16:01:11","date_gmt":"2016-09-13T15:01:11","guid":{"rendered":"https:\/\/www.ccpc.ie\/business\/?p=7614"},"modified":"2017-05-26T09:07:57","modified_gmt":"2017-05-26T08:07:57","slug":"ccpc-issues-summonses-motor-insurance-providers","status":"publish","type":"post","link":"https:\/\/ccpc.inventise.ie\/business\/ccpc-issues-summonses-motor-insurance-providers\/","title":{"rendered":"CCPC issues summonses to motor insurance providers"},"content":{"rendered":"

 <\/p>\n

The Competition and Consumer Protection Commission (CCPC) has today issued witness summonses and information requests to major motor insurance providers and industry groups representing insurers and brokers.<\/p>\n

The CCPC is currently investigating suspected breaches of competition law in the motor insurance sector.\u00a0The investigation relates to industry participants openly signalling up-coming increases in motor insurance premiums in the State.<\/p>\n

According to Isolde Goggin, CCPC Chairperson, \u201cMarkets work best where businesses vigorously and independently compete against each other for customers. Statements signalling future pricing predictions or intentions may result in a degree of unspoken coordination, which may breach competition law. Statements by senior industry players have raised serious suspicion as to whether there is a link between these messages and subsequent price increases. The evidence collected through both the witness summonses and the information requests will assist us in establishing whether there has been a breach of competition law.<\/p>\n

The CCPC has been monitoring the motor insurance industry and we know from our contacts with consumers that the sharp rise in motor insurance premiums has had a significant impact on them. We continue to closely monitor developments and will, if necessary, take action to stop specific anti-competitive practices in the motor insurance sector.<\/p>\n

If anyone believes they have evidence of a breach of competition law in the motor insurance sector we would ask them to contact the CCPC<\/a>.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

  The Competition and Consumer Protection Commission (CCPC) has today issued witness summonses and information requests to major motor insurance providers and industry groups …<\/p>\n","protected":false},"author":113,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[1],"tags":[17,104],"class_list":["post-7614","post","type-post","status-publish","format-standard","hentry","category-news","tag-competition-enforcement","tag-insurance"],"acf":[],"yoast_head":"\nCCPC issues summonses to motor insurance providers | Competition and Consumer Protection Commission<\/title>\n<meta name=\"description\" content=\"The Competition and Consumer Protection Commission (CCPC) has today issued witness summonses and information requests to major motor insurance providers and industry groups representing insurers and brokers. 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