20 May 2018
By Elaine Murphy
Cork North West TD, Michael Moynihan has said that progress on reducing the cost of insurance for car and business owners is moving at a snail’s pace.
Deputy Moynihan was commenting as the 5th Quarterly Report on the Working on Group on the Cost of Insurance was published.
“The Government may claim that progress is being made, but car and business owners who are still seeing their premiums rise year on year know differently.
“Young motorists or those who have returned to Ireland are living overseas are being penalised by insurance companies for no good reason.
“This will inhibit their ability to take up jobs or commute for college. Is this the type of economy that we want?
“Business owners are seeing their public liability and business insurance premiums rise meaning that their viability is put at risk.
“The Working Group, which is chaired by the Government, must speed up the implementation of recommendations from the report. It’s unfair and damaging to the economy.
“These rises in premiums are damaging our competitiveness and are fundamentally risking jobs,” concluded Moynihan.