Oireachtas Joint and Select Committees
Wednesday, 14 September 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Rising Cost of Motor Insurance: Discussion (Resumed)
11:00 am
Mr. Ronan Mulligan:
Previously, 65% of the cost was being funded by a 2% levy. Now another 35% has to be funded from somewhere. The ICF is funded by a levy on policyholders, who pay it as part of their premiums. The MIBI levy is paid by the insurance companies, which naturally pass the cost on to policyholders.
No comments