Limerick based Senator Maria Byrne raised the issue of the high costs of motor insurance with her Fine Gael colleague, the Minister for Finance, Paschal Donohoe, TD.
Senator Maria Byrne says that while figures from the Central Statistics Office (CSO) released in 2017 showed a 14% drop in the cost of motor insurance, costs still remain high and there is much more work to do to make motor insurance affordable. Senator Byrne said: “While this 14% decrease is encouraging, costs still remain high and there is much more work to do to make motor insurance affordable for people across Ireland.
“Fine Gael recognises that it is possible for the State to play a role in helping to stabilise the market and deal with factors contributing to the cost of insurance. For this reason the Cost of Insurance Working Group was established in 2016.
“I welcome the announcement from the Minster of Finance, Minister Donohoe that the fourth quarterly update on the implementation of each of the 71 recommendations contained in the report will be published in the coming days and that work is continuing on the development of an insurance fraud database in the Department of Justice and Equality and an uninsured driving database in the Department of Transport Tourism and Sport.
“The government has also approved the General Scheme of a Bill to establish a new National Claims Information Database in the Central Bank that will collect aggregate information linked to claims for private motor business from motor insurers to provide greater transparency on claim trends” She concluded.
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