Written answers

Tuesday, 17 May 2016

Department of Transport, Tourism and Sport

Motor Insurance Regulation

Photo of John CurranJohn Curran (Dublin Mid West, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

1139. To ask the Minister for Transport, Tourism and Sport his plans to re-establish the motor insurance advisory board, given rising motor insurance costs; and if he will make a statement on the matter. [10226/16]

Photo of Shane RossShane Ross (Dublin Rathdown, Independent)
Link to this: Individually | In context | Oireachtas source

CSO statistics, available from the CSO StatBank, show that while motor insurance costs increased during 2014 and 2015, they were still (for 2015 as a whole) below the levels of 2002 and 2003. The improvement in road safety was one factor in reducing motor insurance costs over that period. Increases in costs in the first four months of 2016 have brought motor insurance costs to above the 2002/2003 levels.

As my colleague, the Minister for Finance stated in the Dail in a statement on insurance costs on 20 April, the Department of Finance will over the coming months be focussing on a broad review of policy in the insurance sector, in consultation with agencies such as the Central Bank, Departments, and other stakeholders, and the cost of insurance will be a particular focus of that review.

My Department has no role in the regulation and monitoring of motor insurance companies and I have no role in relation to the re-establishment of a Motor Insurance Advisory Board.

I am confident that the implementation of the actions set out in the Road Safety Strategy 2013-2020 will, over time, lead to a reduction in road traffic collisions, fatalities and injuries and will make an important contribution to reducing the cost of motor insurance.

My Department has been pursuing for some time​ the establishment of a properly functioning motor insurance database with the insurance industry here to show who is insured and who is not. Such a database would facilitate enforcement by An Garda Síochána, and could make a significant contribution towards reducing the level of uninsured driving in Ireland, which costs the industry and insured drivers here €50 to €60 million approximately per annum.

Comments

No comments

Log in or join to post a public comment.