Vol. 541 No. 4
191 Cecilia Keaveney asked the Tánaiste and Minister for Enterprise, Trade and Employment the action she has taken to date to reduce the rate of car insurance for young people; the plans she has to improve the situation for those being charged high premiums; and if she will make a statement on the matter. [23157/01]
Decisions on the underwriting of insurance risks and setting of premiums are matters for judgment by individual private insurance companies and EU law prevents us, from having any direct function in relation to them.
The Motor Insurance Advisory Board – MIAB – has been charged with advising me on motor insurance costs and in particular with examining the relationship between the incidence of claims and the premiums charged for various classes of policyholder identified by age and sex. The issue of the high cost of insurance for young drivers is especially being examined by the board. The final report of the MIAB is expected at the end of this year and any further action will be decided upon after the report has been received and analysed.
