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

I thank Deputy Michael McGrath for bringing the motion to the House. The increase in motor insurance prices over the past three years is unjustified and unsustainable, and is placing major financial stress on citizens and businesses. Up to July 2016, motor insurance costs had increased by 38% year-on-year. The CSO figures over a three-year cycle show an increase in the range of 70% in some cases for insurance premiums and quotes have increased by as much as 200% or 300%.

The recommendations in the rising costs 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 customers' premiums. We need to strengthen our road safety measures and enforcement thereof. We need to clamp down on fraudulent and exorbitant claims and ensure that those involved are pursued and tackled more aggressively by the Director of Public Prosecutions and insurance companies.

How can community and voluntary groups survive when they are getting huge quotes from many insurance companies? Only for companies such as BHP Insurance, which are regulating prices in some manner for community and voluntary groups, many of them would be out of business.

The cost of insurance is another penalty for those living in rural Ireland. Young people are being charged thousands of euro in areas where there is no public transport. I will support the motion.

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