Fianna Fáil Spokesperson on Transport Robert Troy TD says the Government must move to implement a series of recommendations to tackle spiralling motor insurance premiums.
Deputy Troy made the comments following reports that thirty-three recommendations made by Oireachtas Joint Committee on Finance are to be considered by the Government.
“People right across the country have being grappling with rising motor insurance costs in recent years. The cost of car insurance has risen by a minimum of 51% since January 2011 and the situation is even worse for those looking to insure vehicles associated with their business. These increases are un-sustainable. Exorbitant insurance costs are putting enormous pressure on household budgets and are costing jobs,” explained Deputy Troy.
“Unfortunately the Government has been slow to deal with this problem. Fianna Fáil has raised this issue on a number of occasions in recent years. We put forward comprehensive proposals last June to tackle motor insurance costs. In our view there is an obligation on the state to respond to these soaring premiums.
“The Oireachtas Joint Committee on Finance signed off on a series of proposals last November to bring transparency to the motor insurance industry and to drive down the cost of premiums. This report is hard hitting and calls into question the behaviour of insurance companies over the last number of years.
“It’s deeply frustrating that the Government has been so slow to deal with this problem. They had to wait until a crisis developed before tasking the Oireachtas Finance Committee with examining the issue. People were assured that the committee’s proposals would be acted upon immediately, but little to no progress has been made since they were finalised last November.
“I am deeply concerned with the timeline being reported regarding the implementation of the committee’s proposals. It has been suggested that it could take as long as 18 months before certain measures, such as the creation of detailed databases to combat fraud, are implemented. This indicates that the Government simply is not giving this crisis the attention it needs.
“People cannot afford to endure another round of motor insurance hikes due to Government inaction. Fine Gael and their Independent colleagues cannot put this issue on the back-burner any longer,” concluded Deputy Troy.