Michael Fitzmaurice (Roscommon-Galway, Independent) | Oireachtas source

I am grateful for the opportunity to speak on this issue. Everybody I talk to, whether they have a motorbike or a lorry, be it a farmer or an SME owner, tells me that, in all walks of life, the hikes in insurance are unbelievable at the moment. Today I spoke to a person employing 14 people in a business that has 11 trucks. Its insurance last year was €80,000 but the bill it has received for this year is for €125,000, which has to be paid within two weeks, and there is public and employers' liability to be paid on top of that. This concerns the haulage business, which provides jobs in places where there may not otherwise be jobs.

Today, it was checked out and in Bulgaria for the same 11 trucks the cost is €1,200 each. That is the reality of what is happening. There is no problem with it. At this minute Irish hauliers can move to Bulgaria because there are no major restrictions. They can go there and set up. We are going to lose those jobs. This is the reality, especially with trucks going to the Continent with fridges with meat and so on. That is what we are facing at the moment.

Last year in the budget the Government brought down the tax on the wagons with a large saving and I welcomed that. However, those in the industry are now being crucified by double that amount because of what the insurance companies are doing. I know the haulage industry. In the coming months we will see a vast number of people with lorries exiting this country because the insurance costs have gone out of control. We are all on about trying to create jobs but we have to keep the jobs we have at the moment as well. Whatever needs to be done, whether through legislation or whatever, this has to be reined in.

It is nearly impossible for youngsters trying to get insurance. I have said this before. The companies may be concerned about young people crashing or whatever. I cannot understand why we cannot put a speed restrictor in the vehicle to try to help them.

I agree with everyone who has spoken thus far about awards. We cannot keep paying out €5 million, €6 million or €8 million in awards. Whatever we have to do, we should do. Insurance companies seem to take the view that they will fix the car for their customer and then ask how the customer is feeling and offer €10,000. That is the reality. They will not fight cases. I have seen it myself because I am in business. If I ask insurance companies to fight a case, they will not fight it, although I might believe I could win it. If we do not address this we are going to lose left, right and centre. This applies to small businesses and people subjected to flooding. Deputy McGuinness spoke about them. Some people are being refused insurance at the moment. I have spoken to farmers and they say insurance costs have gone up considerably.

We could go through the entire insurance industry but I am not going to do it now. I am pleased that I got a few minutes to speak and I thank you for the opportunity, a Cheann Comhairle. We could talk about it all day in the House but the reality is that today companies are facing costs of €125,000 plus a further €25,000 for public and employers' liability. I have outlined the case of one company. If that company goes to Bulgaria, the cost is €1,200. That shows the difference. No one can stick that or put up with it.

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