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

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I hear all of that, but let us be straight with people. The insurance industry has been pointing the finger for premium increases squarely at the issue of increased claims costs. The level of premium increases far outstrips the actual increase in the amount of claims paid out by the industry. Insurance Ireland has repeatedly said that premiums are a function of risk and the amount of claims being paid. We have to be straight with people. I accept that there are many other factors. Does Insurance Ireland have monthly data for 2016?

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