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Seanad Éireann debate -
Tuesday, 17 Jul 2018

Vol. 259 No. 11

Insurance (Amendment) Bill 2018: Committee and Remaining Stages

Question proposed: "That section 1 stand part of the Bill."

I welcome the Minister of State to the House. On the section, I want to make one point. It was brought to my attention recently that a young man was charged €5,000 for car insurance because his car clipped another car and the guy came back within a year claiming that he had back injuries and was awarded compensation. The point made to me was that if the average cost of insurance in the country is €750, which is regarded as average, there should be a cap on the percentage of levy charged. A young man paying €5,000 for insurance should not be paying a levy of €350. It is not proportionate or fair.

I am not suggesting an amendment to the Bill but ask that the Minister of State would bear that in mind when it comes to dealing with the regulations and talking to the insurance industry. Someone paying a very high insurance premium must pay a much higher levy than, say, I would pay with a premium of almost €1,000, which would be €70. Young men and women are under awful pressure in terms of insurance costs and, in fairness, we should spread that burden. I ask the Minister of State to look at that with a very-----

Senator Leyden, the Minister of State said he will come back to the House to discuss insurance and motor insurance for as long as we want him to do so. We will take him up on that offer. This Bill is purely to deal with Setanta Insurance.

I accept that-----

The Senator's point is well made but we are trying to get this Bill passed by the House.

-----but bearing in mind his discussions with the insurance companies, the Minister of State might bear that request in mind. I was approached about this on Sunday night. I did not think I would get an opportunity to mention it in the House but I am glad I did. I thank the Acting Chairman for allowing me to do so.

Deputy Leyden is more than welcome. I am happy to indulge him slightly on this last day of the sittings.

Question put and agreed to.
Sections 2 to 17, inclusive, agreed to.
Title agreed to.

That is not the shortest Title we have ever had.

Bill reported without amendment, received for final consideration and passed.

We have concluded all Stages of the Insurance (Amendment) Bill 2018 in less than an hour. I thank the Minister of State, Deputy D'Arcy, and all members for their co-operation.