FF taking the lead in the tackling insurance costs – Michael Moynihan

Fianna Fáil TD for Cork North West Michael Moynihan has warned that more businesses and farmers are at risk of losing their livelihoods unless the issue of high insurance costs is properly tackled.

He was speaking following the publication of a Fianna Fáil Bill which would see more severe penalties for people found guilty of committing insurance fraud. The Civil Liabilities and Courts (Amendment) Bill 2019 will also force those suspected of bringing a fraudulent claim to pay all the legal costs of the case.

Deputy Moynihan said, “Over the past year and a half we have seen the cost of business insurance rise to unsustainable levels and on foot of this, my Party has sought to highlight the issue and bring forward workable solutions through legislation. This latest Bill is further evidence of our commitment to helping bring about changes to reduce these exorbitant costs.

“I have been inundated with calls from business people, community groups and farmers who are simply not able to meet these costs. One farmer, whose insurance rose from €3,000 to €8,000 over the past couple of years has received a quote for €24,000 this year.

“In Charleville, insurance for St. Joseph’s Foundation increased from €150,000 to more than €500,000. The foundation is dependent on a one-off grant from the HSE and fundraising to address these costs. These are real challenges facing people across our communities when looking for insurance, but this government is refusing to take action.

“It was on foot of a Fianna Fáil motion that the Cost of Insurance Working Group was set up, however, there are still a raft of recommendations that are still outstanding. We still do not have a dedicated Garda unit to tackle insurance fraud and nobody knows what is happening with the proposed integrated insurance fraud database which was originally set to be up and running this year.

“This Bill will hit the fraudsters where it hurts, and will act as a deterrent to anyone thinking of committing insurance fraud. I am appealing to Minister D’arcy to take this legislation seriously, and ensure that it is progressed swiftly. Unless urgent action is taken small farms and businesses risk going to the wall”, concluded Deputy Moynihan.