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

I apologise if I was but the Senator is well able for it.

On the Central Statistics Office data on insurance costs, we accepted these data when they tracked the increase from the low point to the peak, which was almost 60%. We should accept the CSO data as prices go down given that we accepted them when prices went up. This is not my information or the Department's information. It is information compiled by the Central Statistics Office. There has definitely been a reduction in premiums but it has not applied to everybody. When I meet the insurance companies, some do not want young drivers and they price accordingly, while others do not want older drivers and they also price accordingly. We also have everything in between. Every company has a different calculation structure and business model and is stronger or weaker in different areas. It is not for me or anybody in the Department of Finance to tell them what their commercial business model should be. My job is to probe the companies to get my head around exactly how they operate. Some are very strong in the areas of younger drivers and have a large segment of that market. They price more competitively than companies which do not want to insure younger drivers.