Michael Collins (Cork South West, Independent) | Oireachtas source

The increase in motor insurance prices over the past three years is unjustified and unsustainable. It is placing major financial stress on citizens and businesses. Up to July 2016, motor insurance costs have increased by 30% year-on-year. The CSO figures over a three-year cycle show increases in the range of 70%. In some cases, insurance premiums and quotes have risen by as much as 200% and 300%.

The recommendations on the rising cost of motor insurance report of November 2016 need to be implemented as a matter of urgency. We need an integrated insurance database service. We need insurance companies to be mandated to explain why they are increasing their customers premiums. We need to strengthen road safety measures and enforcement of these measures. We need to clamp down on fraudulent and exaggerated claims and ensure that they are pursued and tackled more aggressively by the Office of the Director of Public Prosecutions and insurance companies.

As the report recommends, we need to examine the issue of returning immigrants accessing motor insurance and ensure that they are not priced out of the market. The Government needs to review and implement the recommendations of the report as a matter of urgency and not let the situation continue. Citizens and businesses are under significant financial pressure.

In 2002, the Motor Insurance Advisory Board made 67 recommendations on the insurance sector. In 2005, the Competition Authority published a report containing 47 recommendations on the insurance sector. However, not all of those recommendations have been implemented. Why were they not implemented? I hope that this report will not face the same fate. We cannot let the report gather dust. Its recommendations must be taken seriously because each day that passes means more businesses are being forced out of business by rising insurance costs.

People throughout my constituency in west Cork are continuously ringing my office and pleading with me to force action on this issue in the Dáil. Young people have to pay €4,000 or more to be insured, which is another attack on the people of rural Ireland. We have to use our cars in rural communities where public transport is not readily available. We need action. I ask the Minister of State to act immediately.

See this speech in context