Fianna Fáil TD for Dublin Mid-West John Curran has said that while he welcomes progress being made by the Cost of Insurance Working Group, more practical and tangible measures must be identified by the Working Group to help alleviate the pressure motorists are under. Deputy Curran was commenting as ratings agency Standards and Poor’s predicted further premium increases of between 10% and 15% by the middle of 2017.
Deputy Curran was reacting to a response from the Chairperson of the Working Group, Minister of State Eoghan Murphy TD who was tasked with updating Fianna Fáil following questions during Leaders’ Questions on October 5th.
“While undoubtedly much work is taking place by the Working Group, and its four sub-groups, the proof of the success of this endeavour will be seen when they put forward their suggestions for reducing the cost of insurance for Irish motorists.”
“Whatever the Working Group puts forward must have at their core practical measures that help reduce premiums in the short term.”
“Irish motorists have seen ridiculous increases in the cost of motor insurance over the past year. In many situations, their premiums have doubled, causing significant financial pressure on drivers, and their families.”
“This isn’t sustainable, and Irish motorists expect this Working Group to come back with tangible and practical solutions to lowering the cost of insurance,” concluded Curran.