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Dáil Éireann debate -
Thursday, 14 Feb 2002

Vol. 548 No. 4

Written Answers. - Motor Insurance.

Bernard J. Durkan

Question:

79 Mr. Durkan asked the Tánaiste and Minister for Enterprise, Trade and Employment if her attention has been drawn to the difficulties experienced by persons working in certain professions in obtaining motor insurance cover; the professions which are most likely to be penalised for motor cover; the basis of such penalty; if her attention has further been drawn to the fact that some professionals have difficulty getting a quotations for cover; her proposals to address the issue; and if she will make a statement on the matter. [5206/02]

Decisions on the underwriting of insurance risks and the setting of premiums are matters for judgment by private insurance companies. EU law prevents us from intervening directly in the matter. Insurers make decisions on provision of cover based on their assessment of that particular risk. In the case of motor insurance, premiums are normally based on underwriting experience, including trends in the level, frequency and cost of claims.

Since the transposition into Irish Law of the EU Third Framework Insurance Directives in 1994, insurance companies authorised in any one member state may provide insurance cover throughout the EU on the basis of their home country authorisation. This has opened up the Irish market to competition from insurance providers in other EU countries. I have constantly encouraged such competition.
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