According to Mayo Senator Rose Conway-Walsh, Sinn Féin will continue in the next Dáil to build protections for consumers and businesses 'against the insurance companies that are driven by greed to fleece us'.
The Sinn Féin general election candidate in Mayo who led the bill through the Seanad, said: "The successful “Sinn Féin Insurance Contracts Bill initiated by Deputy Pearse Doherty in 2019, has been described as the most radical shake-up of consumer legislation in centuries in this state."
"The Alliance for Insurance reform said this legislation is a game changer that will alter the balance of power between insurers and policy holders such as consumers, small firms and community groups”.
Conway Walsh continued: "Insurers will now have to provide a schedule outlining any premiums paid in the preceding five years. You will now have to be consulted with regard to any claims being made against your insurance policy.
"This will increase transparency and help the consumer when looking for a better deal each year. This legislation is part of our journey to stamp out fraud, protect consumers, ban dual pricing and make premiums affordable.
"I am meeting businesses and groups every day of the week in Mayo who are suffering at the hands of ruthless insurance companies and many find that it is a struggle to continue. Ending the insurance industry rip-off is an ongoing battle that is in our party’s DNA."
