Moynihan secures Dáil debate on spiralling insurance costs

Published on: 15 April 2016

Fianna Fáil TD for Cork North West Michael Moynihan has secured a Dáil debate on insurance costs next week.  The debate has been scheduled for next Wednesday, 20th April.

Deputy Moynihan explained, “I have been raising the issue of spiralling insurance costs for some time now and over the course of the last few years we have continued to see prices increase at an unprecedented rate.  Every single sector has been affected – health, motor, home, business and farm – to the point where some people have been priced out of the market.

“Motor insurance costs have rocketed in the last year – with premiums increasing by over 32%.  Some drivers have seen their policies rise by 50%.  It is now costing families hundreds of euros more to insure their car than it did 12 months ago and these rises are simply unsustainable.  What’s worse is the fact that while these costs continue to soar, the Minister for Finance has adopted a hands-off approach to the issue.

“Fianna Fáil has set out a number of measures which we believe would have a positive influence on the insurance sector including improved regulation and tougher action on exaggerated claims.

“I am pleased that this important debate has been granted and I look forward to frank discussion and engagement to ensure that insurance costs can be brought under control and that consumers are not only protected, but will be able to avail of value for money instead of being ripped off for essential insurance cover”.

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