Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

To clarify, the motor insurance report contained 71 recommendations. We are on target to fulfil 45 recommendations before the end of this calendar year. The hope and expectation is that all 71 recommendations will be concluded before the end of 2018. What we learn from the implementation of the report we will use in the area of personal injury in terms of employer liability and public liability so we will not need to do all the same work again. We will be able to transpose as much of that as it practicable into phase 2, namely, employer liability and public liability. We understand that this is a significant business cost.

If someone's business terms and conditions have not changed and there has not been a claim, there are no grounds for an alarming increase in the premium. I was insistent that each time a premium is renewed it is important to show the amount paid in the previous year. I spoke with one farmer who has 13 insurance policies ranging across machinery, stock, goods, public liability and employer liability. He said he could not remember what each one cost on each occasion. On each occasion that one gets a quote the documentation should show the amount one paid in the previous year. If there is an alarming increase and there has been no change one should contact the company and other companies. In the short term that I have been in this job I was shocked to hear the number of occasions on which people have had a large increase. They challenged that or went to other brokers or companies. On many occasions they came back to me to say that when a different broker went back to the same company there was only a modest increase in the premium. What is happening in those circumstances is that a different underwriter takes a different view and comes up with a different cost for the customer. That indicates to me that there is something very wrong with the insurance sector.