Chinese Walls needed between personal and business insurance for people

Fianna Fáil Chief Whip, Michael Moynihan has said that anomalies in the insurance industry are making it next to impossible for business people to get adequate personal insurance cover.

“During Dáil Questions today, I raised the very serious issue of people having their personal insurance affected by claims being made against their business insurance.

“In the last week, a person contacted me to let me know that he has been repeatedly turned down for personal insurance as a result of a claim made against their business insurance.

“This seems very unfair. People take out business insurance to ensure that their personal activities are not impacted by their professional activities.

“It’s like a very bad game of double jeopardy. To my mind, there should be Chinese Walls put between the personal and business insurances of people,” said the Cork North West TD.

“While I am aware that a number of recommendations have been put forward to reform and improve the overall insurance industry, I believe specific changes are needed to separate a person’s private insurance from their personal insurance.

“Ensuring that people, irrespective of their business activities, can get adequate personal insurance is an absolute requirement. I will continue to raise this issue in the Dáil, and with respective Ministers to ensure we see positive change,” concluded Moynihan.

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