Michael Ring
Question:186 Mr. Ring asked the Tánaiste and Minister for Enterprise, Trade and Employment the action the Government is taking to assist persons under 25 years of age obtain motor vehicle insurance. [22905/01]
Written Answers. - Motor Insurance.
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 declined cases agreement between the insurance industry and our Department provides a mechanism whereby drivers, including young drivers, may obtain quotations.
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 after the report has been received and analysed.