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
Gerry Horkan (Fianna Fail) | Oireachtas source
Many people may neglect this issue and I accept 70% of them are not switching. At the same time, this cost is a very big figure if it is a one-off payment, and even if people are paying by direct debit, it is still an initial bill which hits once a year. People really do not know why €390 has become €520. If a person had entered a different age bracket, moved house, changed car, changed job, or started working nights rather than days, that would be some explanation. I do not know as I am not an actuary, but the more information we can have, the better. This is a discussion we will have with Insurance Ireland and is one we have had with most other witnesses. However, given Mr. O'Leary's role in protecting the consumer, getting the most amount of information available would be helpful to the consumer.
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