asked the Minister for Trade, Commerce and Tourism if he will consider amending legislation to ensure that insurance companies are compelled to cover at reasonable costs motor bike owners and prevent such companies from treating this category of motor users unfairly.
Written Answers. - Motor Cycle Insurance.
643.
The level of premiums for motor cycles reflects the unfavourable underwriting results for this class of insurance. Statistics published annually by An Foras Forbartha show that the fatal accident rate for motor cyclists is almost ten times that for car users, which indicates an extremely high accident rate for motor cycles in general.
The cost and frequency of claims is the overriding factor determining the level of premiums, and premium increases are sanctioned only after applications from the companies concerned have been rigorously examined both by my Department and the National Prices Commission. I am satisfied, having regard to the level of claims being experienced by the insurers, that the premiums currently in force do not represent an unreasonable charge for the cover provided.
I do not, therefore, propose to consider the introduction of the type of legislation proposed by the Deputy.