UNCOVERED: The
MIAB report exposed grossly excessive profits on women policy holders, particularly young women drivers
Ms Harney, who is also the Enterprise, Trade and Employment Minister, said the development should be seen as the first in a package of measures based on the
MIAB report.
MIAB chairwoman Dorothea Dowling claimed premium costs could be cut almost immediately "if the political will was there".
The MIAB report revealed insurance companies earned EUR464million between 1983 and 1999, almost 10 times the pounds 30million (EUR48million) for UK companies in the same period.
He said: "This report verifies our submissions to the
MIAB that young drivers are being exploited and overcharged by the insurance industry.
