Noel Ahern (Dublin North West, Fianna Fail)
Link to this: Individually | In context

Question 272: To ask the Minister for Transport if he will clarify the position in relation to the operation of motor insurers; if there are agreed rules or criteria in relation to premiums, cancellations, transfer fees and refunds paid whether in full or part; and if he will make a statement on the matter in relation to general agreed criteria and specifically in relation to the case of a person (details supplied) in Dublin 5. [28446/09]

Noel Dempsey (Meath West, Fianna Fail)
Link to this: Individually | In context

Under the Road Traffic Acts, third party liability motor insurance is compulsory for the use of a mechanically propelled vehicle in a public place. The contract for motor insurance is a private contract between the policyholder and the motor insurance company. Motor insurance is provided by private companies in an open and competitive market where consumer interests can exert influence by seeking quotes and comparing costs, before purchasing. As in any free market, the best advice to consumers is to shop around to get the best value for the particular drivers requirements.

Insurance companies are controlled by the Financial Regulator who has a role in relation to the protection of consumers of financial services. The Agency set up to deal with complaints specifically in financial services is the Financial Services Ombudsman. The Financial Services Ombudsman is a statutory officer who deals independently with unresolved complaints from consumers about their individual dealings with all financial service providers. Both of these services operate under the aegis of my colleague, the Minister for Finance.