22 July 2016
By Tom Collins
Fianna Fáil Spokesperson on Finance Michael McGrath says the government needs to intensify its efforts to address the unsustainable increases in motor insurance premiums.
Deputy McGrath was commenting as the ‘Working Group’ set up by the government in response to a Fianna Fáil private members’ Dáil motion on motor insurance last month held its first meeting this week.
Deputy McGrath commented, “I welcome the fact that, in response to the Fianna Fáil Dáil motion, the government has set up a working group to specifically examine the cost of insurance, with an initial focus on motor insurance premiums. I understand the working group held its first meeting this week and is being chaired by Minister of State Eoghan Murphy. This working group needs to knuckle down to its task and make recommendations to address the crazy increases in motor insurance premiums.
“The most recent CSO data confirms the stories we are hearing from motorists about the rate of increase in premiums. Premiums are up by a staggering 38.8% in the year to the end of June and by 2.5% in the month of June alone. This simply cannot be allowed to continue. The factors leading to these increases need to be identified and recommendations made to address the problem. We then need to have a timeline for implementation of these measures.
“Fianna Fáil will support any proposals in the Dáil that are necessary to deal with the ridiculous increases in motor insurance premiums. We will continue to put pressure on the government over the summer and autumn to tackle this vital consumer issue.”