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 Gerry HorkanGerry Horkan (Fianna Fail) | Oireachtas source

I apologise and do not mean to jump in but on the same point, is it the case that no one in Insurance Ireland is collating all these data? It is going in individually by member. The joint committee is trying to look at profitability or otherwise and has heard the statement regarding €20 to €30 per €100, but no one is taking the motor insurance business of all the people in the Irish market, adding it up and outlining the revenue, the claims, the operating costs and the losses. Equally, if there has been a 70% increase in premiums, some of that is due to claims, some to solvency and some to having less investment income, but those figures are not available. They simply do not exist.

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