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
Ms Verona Murphy:
Yes, that has certainly added to the situation. However, it comes back to the same thing. If a haulage operator does not charge enough for the work, they are doing they will go out of business. Regardless of whether we are in a recession, competitors in the market, who previously said they did not charge enough because to have done so would have meant they could not compete, are now making hay while the sun shines. Nobody appears to be doing anything about it. We will go out of business all over the place before we have a decision from the EU competition authority, which could be five years down the road. I do not think the investigation should stop but we need to take evasive action to deal with this in the short term. The short-term solution is to conclude that if Mohammed will not come to the mountain, the mountain must be brought to Mohammed. In other words, we are now citizens of the EU so we should be allowed to obtain our insurance as we see fit. I do not see any other short-term solutions.
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