Editorial: Toothless regulators see insurance industry walk away unscathed again

Nothing will change if repeat offenders continue to be allowed walk away with barely a slap on the wrist

The CCPC has now carried out three investigations into the behaviour of insurance companies in Ireland, with many of the same firms involved on each occasion.

The announcement last week by the competition watchdog that it had closed its long-running probe into alleged cartel-like behaviour in the motor insurance industry illustrates yet again that Ireland’s financial regulatory system does not have the teeth required to make a real impact.

After spending five years on the investigation, which required significant resources and thousands of man hours, and even included dawn raids on the major insurance companies, the Competition and Consumer Protection Commission ...