I am acutely aware that the rising costs of motor insurance for drivers generally are also affecting the taxi industry. There are reports of large increases for existing policy holders and significant difficulties in obtaining insurance for new operators. The implications of the current insurance difficulties faced by those in the taxi sector are of serious concern to me.
The Minister for Finance has established a task force to review policy in the insurance sector. As part of its work, it is examining the factors which have led in recent times to the significant increase in motor insurance costs and will be recommending steps to influence the situation. The difficulties of taxi and hackney operators in obtaining insurance have been highlighted to the task force by my Department and the National Transport Authority (NTA). I am advised that the NTA has also had a bi-lateral meeting with the Department of Finance to apprise them of the situation pertaining to small public service vehicle (SPSV) licence holders in relation to both the availability and cost of SPSV insurance. It is expected that a report of the work of the task force will be completed late this year and the Government will then consider the appropriate actions to be taken.
As the Deputy has alluded to, the regulation of the small public service vehicle (SPSV) industry, including the SPSV Entry Test, is a matter for the NTA under the provisions of the Taxi Regulation Act 2013.
