Dáil Éireann Debate, Thursday - 26 March 2015
263. Deputy Michael McGrath asked the Minister for Transport, Tourism and Sport the change in the cost of motor insurance as measured by the Central Statistics Office in each year following the introduction of the Personal Injuries Assessment Board; his views on the operation of the motor insurance market here; and if he will make a statement on the matter. [12634/15]
View answerThe Injuries Board (previously known as the Personal Injuries Assessment Board) was set up under the Personal Injuries Assessment Board Act 2003, and commenced operations in 2004. The Board's first annual report was published for 2004. Percentage changes in the cost of motor insurance as quantified by the Central Statistics Office, and available from the CSO StatBank, are set out in the table below.
As can be seen from this table there has been a significant fall in the cost of motor insurance since the Injuries Board was established showing a reduction of over 24% from 2003 to 2014.
I consider that the PIAB Acts and the Injuries Board have had a significant positive role in reducing the processing costs of many motor insurance claims with a consequential beneficial effect in reducing motor insurance premiums and in encouraging insured driving. I would support any further measures which would encourage claimants to pursue their claims through the more cost-effective Injuries Board route rather than through incurring unnecessary processing costs through the courts.
There has been a recent trend towards increasing motor insurance costs. While I am concerned with increasing motor insurance costs, the setting of prices in that area is a matter for the industry and I have no role in the regulation of insurers.
Affordable motor insurance is an important element in the delivery of road safety in Ireland and I would be concerned that increasing insurance costs could lead to an increase in uninsured driving to the detriment of all road users.
Motor Car Insurance
|
YEAR |
JAN |
FEB |
MAR |
APR |
MAY |
JUN |
JUL |
AUG |
SEP |
OCT |
NOV |
DEC |
ANNUAL |
|
2001 |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
100 |
- |
|
2002 |
99.7 |
99.6 |
103 |
109 |
108 |
106 |
105 |
106 |
106 |
107 |
106 |
106 |
105.1 |
|
2003 |
106 |
107 |
108 |
108 |
108 |
108 |
107 |
106 |
103 |
97.9 |
94.9 |
94.5 |
104 |
|
2004 |
94.1 |
94.2 |
93.6 |
93.6 |
93.5 |
92 |
92.7 |
92.8 |
87.2 |
87.3 |
87.1 |
86.4 |
91.2 |
|
2005 |
86.2 |
85.7 |
84.2 |
82.4 |
82.4 |
82.5 |
81.5 |
81.5 |
81.5 |
81.8 |
79.8 |
79.8 |
82.4 |
|
2006 |
78.2 |
78.3 |
78.5 |
78.5 |
78.3 |
78.3 |
77.2 |
77.2 |
74 |
74 |
74 |
71.2 |
76.5 |
|
2007 |
70.9 |
70.5 |
70.3 |
66.1 |
66.1 |
66.3 |
66.7 |
66.3 |
66.7 |
65.8 |
65.8 |
64.4 |
67.2 |
|
2008 |
64 |
64.1 |
64.2 |
64.2 |
64.6 |
64.6 |
65 |
65.1 |
65.1 |
65 |
65.5 |
66 |
64.8 |
|
2009 |
68.3 |
69.4 |
71.2 |
72.5 |
72.6 |
73.3 |
73.8 |
74.6 |
74.7 |
74.4 |
74.1 |
72.7 |
72.6 |
|
2010 |
73.3 |
74.6 |
71.8 |
72.4 |
72.4 |
72.8 |
73.4 |
74.2 |
74 |
74.9 |
75.6 |
77.3 |
73.9 |
|
2011 |
75.5 |
76.3 |
76.3 |
77.3 |
77.9 |
78.8 |
79 |
78.2 |
78 |
78 |
77.9 |
77.9 |
77.6 |
|
2012 |
79.7 |
80.1 |
79.4 |
79.3 |
79.5 |
80 |
80.3 |
80.5 |
80.5 |
81.8 |
81.8 |
81.8 |
80.4 |
|
2013 |
74.1 |
73.8 |
74.3 |
75.2 |
73.4 |
73.2 |
74 |
74 |
74.1 |
73.8 |
73.8 |
74.2 |
74 |
|
2014 |
74.2 |
75.5 |
77.7 |
77.9 |
78 |
78.2 |
78.3 |
78.4 |
79 |
81.7 |
82.3 |
83 |
78.7 |
|
2015 |
85.3 |
87.4 |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
