Dáil Éireann Debate, Thursday - 11 June 2015
232. Deputy Terence Flanagan asked the Minister for Transport, Tourism and Sport if he will address a matter (details supplied) regarding motor insurance; and if he will make a statement on the matter. [22792/15]
View answerMotor insurance costs as measured by the CSO, and available from the CSO StatBank, have increased by 4% from January to March 2015, but motor insurance costs in March 2015 still remain almost 15% below the prevailing level in 2003.
While I am concerned with the recent trend towards increasing motor insurance costs, motor insurance is provided by private companies in an open and competitive market and the setting of motor insurance prices is a matter for the industry and I have no role in the regulation of insurers.
Consumers are encouraged to seek quotes and compare costs at the time of insurance renewal and the Competition and Consumer Protection Commission (www.ccpc.ie) publishes information to assist consumers in purchasing motor insurance.
