Workers Party representative Nicola Grant as called on the Northern Ireland Insurance Ombudsman to take action on the insurance premiums companies are charging to their customers in Northern Ireland. She says we have the highest premiums in the United Kingdom. Forcing many residents especially those on low incomes, old age pensions, state benefits, no other choice when it comes to all the other household bills to juggle but cancel their house insurance.

The devastation that this latest storm has inflicted brings into sharp focus how those who are already struggling with poverty are once again impacted by dramatic price rises. Nicola continued working class people are being put in an impossible position. They should not have to make the choice to heat and eat and leave their homes unprotected. She went on to say that the storm is a stark reminder of the critical role insurance plays in protecting citizens from disasters. Yet, the current pricing model is leaving far to many people without cover, putting lives and livelihoods at risk. An urgent review of the insurance industry practices must be undertaken to prevent overpricing, we need to stop the broad-brush approach the industry uses.

Hundreds if not thousands of our friends and neighbours will now. Not only have to pick up the pieces, they will be left struggling with the bill, because they were priced out of sourcing affordable insurance.

Nicola concluded her own insurance premiums went from £ 400 to £1200 without any change to her circumstances. Multi- National Insurance companies are raking in massive profits, whilst ordinary citizens who cannot afford insurance cover have another massive burden to shoulder. There are other serious issues and concerns with the insurance industry including misleading and confusing language and the use of spurious “exclusions” to reject claims. While this may be no surprise in a capitalist enterprise the State and the Regulator has a responsibility to protect citizens and those who hold insurance policies and those who cannot afford them.