John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

I would to ask a few questions about the various reports. I commend the Minister of State and his officials on the work they are doing. I commend all the groups and stakeholders that are contributing to the analysis of the insurance industry and taking the steps that are necessary to bring about the changes all of us want. Our ultimate aim is to see a reduction in part of the market, where possible. We are in a sort of bubble as we discuss that here. Our understanding of where this is going must relate back to the reality of life for some people. When I met a group of people recently to discuss this issue, the taxi drivers at the airport pointed out that the general charge from the airport to town is between €20 and €25. They were measuring that against the massive increases in their insurance premiums they have experienced.

I will mention one common denominator. The monthly cost of insurance, which started at €100 a few years ago, increased to €159 and then to €200. It is now €239 per month. That is the way they measured it. These ongoing increases do not seem to be stopping. One taxi business at that location recently received a quote of €20,000 for a premium. Given that the insurance companies and Insurance Ireland have a great deal of knowledge about the work that is being undertaken, one would imagine they would start to understand that the Government, the Minister of State and this committee are serious about this matter. They should almost be ahead of the Minister of State in delivering the type of response that is required. One would imagine that when the taxi drivers who have experienced these massive year-on-year increases ask the insurance companies from which they buy insurance products why the price of those products has increased so substantially, it should not be impossible for the companies - even without the Minister of State's work - to give the drivers a breakdown of the relevant data. Why is it so impossible for them to provide this information?