Dara Calleary
Question:1581. Deputy Dara Calleary asked the Minister for Transport, Tourism and Sport his views on the motor insurance market here; and if he will make a statement on the matter. [31416/15]
View answerTuesday, 22 September 2015
Questions (1581)
Written answers
The role of the Department of Transport, Tourism and Sport with regard to motor insurance is confined to the legal requirement that under the Road Traffic Acts to have third party insurance to drive a motor vehicle in a public place.
My Department has no powers to regulate the motor insurance industry. The Central Bank, as Financial Services Regulator is responsible for the regulation of Insurance Companies, but their powers do not extend to pricing, which is seen as a matter for an open market.