Govt. must do more to tackle rising insurance costs-Gallagher

Published on: 18 February 2019

Fianna Fáil Senator Robbie Gallagher has called on the government to tackle the rising insurance costs which are causing difficulties for business owners and individuals across Monaghan and Cavan.

Senator Gallagher said “Motor premiums are driving people off the road. In many cases it is not sustainable for a young person to insure a car and keep it on the road. In my own areas of Cavan Monaghan we are limited on transport links and dependent on the road network. Rising insurance costs are bringing significant financial pressures onto people.

“Like wise, business insurance has not avoided the rising insurance costs in the state. I spoke recently with a small business owner in County Monaghan who has 12 employees. He told me that his employers’ liability and public liability premiums in 2017 amounted to €9,800. As of last year, this has now increased to €11,600. Nothing has really changed in the interim, there have been no claims, and his broker advised him this week that the premiums will more than likely increase again. This puts added pressure on businesses and clearly more needs to be done.

“While the Minister has said the working group set up to investigate these rising premiums is working away the costs keep rising for motorists and business owners. We require a dedicated insurance fraud unit headed by the Gardaí to investigate false claims. This is just one of the measures which are urgently needed. The government must step in to ensure fairness in this industry for consumers,” concluded Senator Gallagher.

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