Finance minister tell insurers to cease large premium rises

Ireland's finance minister, Brian Lenihan, called on insurers to only slowly raise home and motor premiums after a series of sharp rise, Reuters reports.

"In my view it must be a priority for insurance companies to ensure that insurance cover is provided as competitively as possible, consistent with long-term commercial sustainability and viability," Lenihan said in a speech to an insurance conference in Dublin.

"I am particularly conscious of the impact of a significant increase in premiums for both the consumer and business."

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