Oireachtas Joint and Select Committees
Thursday, 24 November 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Rising Costs of Motor Insurance: Discussion (Resumed)
9:30 am
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
I am sorry for being delayed, but I followed some of the discussion in my office. I welcome the Minister of State to the committee and wish him well with his final report. When he appeared before us previously, I asked that he would request of the industry a number of cases that were outliers in terms of insurance increases. We are familiar with the CSO figures on annual increases in premiums, be they in the 25% or 33% range depending on which cycle one is considering.
Deputies and Senators are aware of many cases where individuals have seen their premiums increase by two, three and higher percentage ratios. At that time I asked the Minister of State to request the industry to provide a sample of the outliers and to ask the industry to justify how that has happened on the basis of risk. Has the Minister of State made that request to the industry to provide him with the figures? If that has happened, what was the outcome of the examination?
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