Jack Chambers (Dublin West, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

202. To ask the Minister for Transport, Tourism and Sport if his attention has been drawn to the fact that some taxi drivers have seen their motor insurance premiums rise by 130% over the past two years; his views on the reason this is happening; the position regarding work by his Department to bring down motor insurance premiums for all drivers and particularly for taxi drivers and other professional drivers; and if he will make a statement on the matter. [49541/17]

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

The increased premium costs of motor insurance for all drivers in recent years is certainly cause for concern. It is clear that this, particularly in the couple of years up to 2016, has also affected those working within the Small Public Service Vehicle (SPSV) industry. While I am informed that there some early signs that this trend is beginning to revert, with recent CSO figures showing that motor premiums generally were 14% lower in September 2017 compared with a year earlier, it is certainly concerning to hear of some very significant motor insurance premium increases, such as cited by the Deputy.

As he may be aware, the pricing of insurance products is a commercial issue for insurance companies, based on an assessment of the risks that they are willing to accept. This position is reinforced by the EU framework for insurance which expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval of the pricing or terms and conditions of insurance products.

Notwithstanding this, I am keenly aware of how insurance issues are affecting the taxi industry. As the Deputy may also be aware, the Department of Finance Working Group’s Report on the Cost of Motor Insurance was published in January of this year. Based on recommendations from this report, the Advisory Committee on SPSVs met with Insurance Ireland on 22 May to discuss cost of insurance issues relating to the taxi industry and a report on the same was issued to me on 21 June. I have forwarded that report to the aforementioned Working Group, which is already pursuing many of the recommendations arising from the meeting, including the need for further engagement to take place between the Advisory Committee on SPSVs and Insurance Ireland.

It is my hope that this cooperation and engagement will deliver better rates for all motorists, including taxi drivers.