Oireachtas Joint and Select Committees

Thursday, 21 November 2019

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Dual Pricing for Insurance: Discussion (Resumed)

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Mr. Horan is making a claim. Let us back this up with fact. I call on Insurance Ireland to give me the average price of insurance for an insured motorised vehicle in 2014 and the average price for an insured vehicle in 2017. We do not have the 2018 data because they have not been published yet. I call on Mr. Horan to give me those two numbers to back up his claim that premiums have been falling. The published Insurance Ireland data will show that they have actually increased from €448 in 2014 to over €660 in 2017, a 50% increase. The figure did not actually decrease in any one of those years despite the fact that we have seen a 22% reduction in claims and a 15% reduction in the amount of awards being paid. I call on Insurance Ireland to give us the figures, or dispute the figures if I am wrong, and back up its contention that motor insurance premiums are dropping.

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