Oireachtas Joint and Select Committees

Thursday, 15 September 2016

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

Rising Cost of Motor Insurance: Discussion (Resumed)

11:00 am

Mr. Patrick Kenny:

Following on from that, we saw additional statements by CEOs in the newspapers. We spoke to our colleagues in the equivalent agency in the UK and asked whether this was happening there, and they said it was not to the same degree. When one is looking at a market where these things are evolving, one can have a starting point but eventually one says we now have to start investigating. Therefore, from the middle of the summer, the division under my direction prepared a brief for the commission and we asked if could we commit resources to this. This is how we work because if one is conducting one investigation, one is not doing a number of others. That was approved in the summer. It is the first public phase in an ongoing investigation.

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