Dáil Éireann Debate, Tuesday - 14 June 2016
567. Deputy Mick Wallace asked the Minister for Transport, Tourism and Sport his discussions with the Department of Finance on the recent hike in car insurance prices; the measures he is planning to take; and if he will make a statement on the matter. [15527/16]
View answerI would like to clarify, in the first instance, that my Department has no role regarding the legal framework for insurance regulating, or for the regulation of insurance companies. These are matters that fall under the remit of the Minister for Finance and the Central Bank, respectively. However, my main concern arising from the recent increases in the costs of motor insurance premiums is that if motor insurance becomes unaffordable, there is a risk of more instances of uninsured driving.
As a first step in an overall review of Insurance in this country, a Joint Working Group was established by the Minister for Finance and my predecessor to review the framework for Motor Insurance Compensation in Ireland. The recommendations of the Group are currently being finalised and are expected to be presented to Minister Noonan and me for our consideration in the near future.
