Oireachtas Joint and Select Committees

Wednesday, 7 September 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Rising Cost of Motor Insurance: Minister of State

11:00 am

Photo of Eoghan MurphyEoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

I have figures with regard to the way in which companies are operating. According to the figures provided to me, they are booking a loss on their motor insurance books. I have requested data from one insurance company that will also help in terms of identifying the increases. As soon as I have received it, and if it is appropriate to do so, I will share it. In the interim, we will share whatever data supplied thus far that it is appropriate to share. Insurance Ireland will be appearing before the committee. Data for 2015 are in the pipeline. We are currently working off data from 2014 because that is the latest information that the industry has provided to the Central Bank. New data is on the way. If we get it first, we will ensure it is shared with the committee.

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