Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

Yes. I am keen to make a point on this. I have pursued this with insurance companies. There would be a cost to go back and analyse previous agreements. There would be a cost on any look-back on the premiums in previous years. It would be costly to carry out and provide the analysis. There are 2 million motor policies. Even if it cost €1 per policy, that would come to a cost of €2 million straight away.

Everyone wants to ensure we reduce the cost of insurance. We want to put in place as solid a structure as we can. I have put this strongly to insurance companies. They maintain it would have a cost and the cost would be passed on to the consumer. If there is no real strong legitimate case to have the information available, then I would be slow to go down that route. I do not support them often, by the way.