Oireachtas Joint and Select Committees

Tuesday, 13 September 2016

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

Rising Cost of Motor Insurance: Discussion (Resumed)

11:00 am

Mr. Joe Herron:

The number is very small. What is happening now is that instead of individuals getting taxi licences, companies are buying them. People are forming companies to buy taxi licences and put them out with drivers. While that is happening, I certainly do not feel that there is competition as I would know or interpret it to be. There is nothing to stop insurance companies from showing us how much has been paid out in claims on taxis alone. They will not do that, but there is nothing preventing them from doing so if they wish. It would be very simple for them to separate the figures for taxis from the figures for everybody else, but they will not do so.

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