Oireachtas Joint and Select Committees

Tuesday, 29 May 2018

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

Update on Insurance Matters and Implementation of the Report on the Cost of Motor Insurance: Discussion

4:00 pm

Photo of Rose Conway WalshRose Conway Walsh (Sinn Fein)
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As was said by others, the real frustration is that with all the work we did with all of the actors around the insurance industry, in which the Minister of State was involved, people do not see the difference. We have all of these inputs and no real outcome for people. An 18 year old individual was quoted €6,785.01 for insurance on a 2004 Ford Fiesta while a business with insurance for €20,000 in 2015 is now quoted €102,000, so they are still getting away with this crazy situation. I know the CSO statistics will say insurance premiums have come down and I wish I could say that but in all cases I have come across and from all the people who engaged with me, I can say that this is happening across the board. Does the Minister of State think it is right for an 18 year old to be quoted €6,785 for insurance? What does that say to the Minister of State?