Taxi driver is forced to pay a €7,500 premium
Taxi driver David Milne was left with no choice but to pay a premium on his insurance policy that is 400pc higher than he paid last year.
The Dubliner is now paying €7,500 for his cover, up from €1,500 last year. He says he cannot make money out of operating his taxi service with such a huge overhead.
Mr Milne's case featured in the Irish Independent in February when he was arguing with insurers over the massive hike in his premium.
The self-employed taxi driver had been considering giving up the taxi service, as the huge premium renders his business uneconomical.
"I had to pay it in the end. My only other option was to throw away the car keys," he said.
He was forced to renew in March with the same insurer as he was unable to get a quote from other insurance firms. There is a personal injury claim outstanding on his policy.
Mr Milne (50) complained to the Central Bank, the Financial Services Ombudsman, and insurance industry representative body Insurance Ireland, all to no avail.