Dáil Éireann Debate, Tuesday - 26 June 2018
492. Deputy Patrick O'Donovan asked the Minister for Transport, Tourism and Sport if consideration has been given to real time recorders of speed in cars that can be shared with insurance companies, which would result in a cost reduction. [27856/18]
View answerThe provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies, and I have no role in determining matters such as any discounts in the motor insurance industry resulting from the use of real time recorders of speed in vehicles, which ultimately are a matter for individual insurers and for the insurance industry.
I would point out, however, that the Cost of Insurance Working Group (CIWG), chaired by Minister Michael D'Arcy of the Department of Finance, in their Report on the Cost of Employer and Public Liability Insurance, published on 25 January 2018 included an Addendum to their earlier Motor Insurance Report on the use of telematics technology, including the real time recording of speed in vehicles. The Report’s Addendum notes the potential of such technology to record data such as a vehicle’s speed, braking, acceleration, swerving, etc., and to communicate in real time such data to the relevant insurance company. The report noted the view of the CIWG and of the Personal Injuries Commission regarding the potential of the technology to combat fraud and to enable insurance companies to better identify individual risk and price accordingly. It also noted that the technology is being pursued by a number of insurers in the Irish market at present.
The Addendum recommends that Insurance Ireland submit a report to the CIWG on the topic before September 2018.
