Aindrias Moynihan (Cork North West, Fianna Fail) | Oireachtas source

I have repeatedly raised in this House the issue of the spiralling cost of motor and household insurance, which costs are crippling household budgets. Action needs to be taken to address them to take the financial pressure off households. We have seen car insurance premiums rise for no apparent reason. People who own a car that is more than ten years old have struggled to have it insured. Returning emigrants who may have driven in Australia or Britain where motorists drive on the same side of the road as we do have also seen a dramatic increase in their motor insurance premiums.

There is a complete lack of competition in the insurance market in seeking cover for vans and motorbikes. Elderly drivers are being pushed out of the motor insurance market purely because of their age. They are almost being forced to stop driving which would have a dramatic impact on an older person's life. The number of people who have been declined insurance cover has increased dramatically from 178 in 2012 to 1,914 last year. This morning I spoke to a constituent in Cork who had moved house across his estate and was parking his car on the opposite side of the same green and who had seen his motor insurance premium increase from €900 to €1,200.

Last summer Fianna Fáil brought forward a similar motion with constructive proposals to address spiralling insurance costs. It was six months before the working group came forward with many of the same proposals. Clear targets were set, with 40 to be met this year. However, the quarter one report shows that three of the ten action points have not been finalised. That does not show a lack of urgency but that the Government was coming late to addressing the issue and that it has fallen behind. It needs to show more urgency to drive forward on the issue to which tt is coming late. Businesses are also falling behind, but I will leave it to my colleagues to address that aspect. The Government needs to show greater urgency and support for families by driving down insurance costs.

See this speech in context