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)
Paul Murphy (Dublin South West, Solidarity) | Oireachtas source
I will put other figures to Mr. Hassett and he can tell us whether these are accurate. They have a figure for total motor and liability premiums - the total taken in by the insurance industry - of €1.35 billion in 2012 rising to €1.57 billion in 2013, €1.68 billion in 2014, €1.88 billion in 2015, €2.27 billion in 2016, €2.48 billion in 2017. They then have figures for net motor and liability claims, which is, as I understand it, all claims including PIAB, court and other. Those figures are: just over €1 billion in 2012, then up to €1.29 billion, down to €1.25 billion, €1.16 billion, €1.35 billion and €1.31 billion. I am sure Insurance Ireland has looked at this article, analysed it, etc. Are those figures accurate? They indicate a substantial divergence between premiums, which have risen substantially over the course of the past six or seven years, and claims which have varied but remained strictly similar?
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