Michael Harty (Clare, Independent) | Oireachtas source

I compliment Deputy Michael McGrath on introducing the motion, which refers to the collapse of Setanta. It is essential for people to have insurance for their houses and cars, but we must have confidence in our insurance companies and be happy that they are reliable and solvent. I am aware of haulage companies in my area which are having great difficulty getting insurance in Ireland, and are seeking insurance for their companies abroad. I am worried because they may be seeking insurance from companies that are insolvent.

I agree with the proposal in the motion that the Central Bank undertake an awareness campaign to ensure that motorists are fully informed about the different regulatory statuses of firms offering insurance in Ireland. That is extremely important.

Fraudulent claims and uninsured drivers are important to people and are driving up the cost of insurance. It is important that we have confidence in the insurance companies to which we pay our premiums.

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