Oireachtas Joint and Select Committees

Thursday, 1 June 2017

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

Motor Insurance Costs: Minister of State at the Department of Finance

10:00 am

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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They told me that it was one of the main drivers because they had to reserve money not just for Setanta but in respect of any similar situations in the future. They also suggested to this committee that it was one of the main drivers. Given that the uncertainty is gone and we have seen insurance premiums increase to extraordinary levels in the past three years, what action can or will the Government take if the companies do not reduce premiums?