Jim O'Keeffe
Question:82 Mr. J. O'Keeffe asked the Minister for Enterprise and Employment whether he has satisfied himself that motor insurance premia are competitive; and if he will make a statement on the matter.
Vol. 432 No. 6
82 Mr. J. O'Keeffe asked the Minister for Enterprise and Employment whether he has satisfied himself that motor insurance premia are competitive; and if he will make a statement on the matter.
Since 1976 both Irish and foreign owned companies have been providing motor insurance cover in the Irish market and indeed there are 30 such authorised insurers at present. These are either Irish owned or foreign owned companies established and authorised in this country on a head office or branch office.
The Third Non-Life EC Insurance Directive, which will allow non-life insurers, including motor insurers, to provide insurance across the EC on the basis of a single licence from the home member state, will be implemented in 1994. It remains to be seen what impact this final stage in the opening up of the EC insurance market will have in practice on motor insurance premia in this country.