Fianna Fáil Spokesperson for Finance Michael McGrath has welcomed the passing of a Dáil motion on the urgent need to tackle soaring motor insurance premiums.
The motion moved by Fianna Fáil calls for the re-establishment of the Motor Insurance Advisory Board on a time limited basis, greater disclosure around policy renewal notifications, action on the settlement of cases and dealing with false and exaggerated claims.
The news of the passing of the Fianna Fáil motion came minutes after confirmation by the CSO that the annual rate of increase in motor insurance has hit a record 35.5% in May of this year.
Deputy McGrath commented, “The passing of this motion is a very significant development for Irish consumers. It sets out a clear path for tackling this significant issue. Key to this is the establishment of a taskforce to examine all the factors which are contributing to these huge increases.
“Following the success of this motion we will use every forum available in the Dáil to press the various Government departments to take the action demanded by the Oireachtas.
“The motion includes a number of practical measures we believe can be undertaken alongside the work of the Motor Insurance Advisory Board. These include,
– The establishment of a motor insurance database;
– Enhanced disclosure around policy renewal notifications;
– Ensure greater consistency in court awards in personal injury cases;
– Robust action on false and exaggerated claims;
– Legislation to clearly define the roles of Motor Insurance Bureau of Ireland and the Insurance Compensation Fund;
– Action to strengthen road safety enforcement.
“The onus is now on the Ministers for Finance and Jobs, Enterprise and Innovation to give effect to the will of the Dáil on this issue and ensure that motorists get a well-deserved break from seemingly relentless increases in motor insurance premiums,” concluded Deputy McGrath