Dáil Éireann Debate, Thursday - 5 July 2018
323. Deputy Robert Troy asked the Minister for Transport, Tourism and Sport if his attention has been drawn to the fact that taxi drivers, in particular new entrants, are being declined insurance or are receiving unaffordable quotations; and the steps he is taking to address the matter. [29819/18]
View answer327. Deputy John Curran asked the Minister for Transport, Tourism and Sport the measures he will take to ensure that new taxi entrants can obtain vehicle insurance at a reasonable price; and if he will make a statement on the matter. [29834/18]
View answerI propose to take Questions Nos. 323 and 327 together.
The increases in premium costs of motor insurance in recent years have been a cause for concern for all drivers, including the owners of Small Public Service Vehicles (SPSVs). However, recent CSO figures show this trend as having been reversed with overall motor premiums for the year 2018 as being lower in comparison to those for the previous two years, with a fall of over 19% between July 2016 and May 2018.
As you may know, the pricing of insurance products is a commercial matter for insurance companies, based on an assessment of the risks that they are willing to accept. This position is reinforced by the EU framework for insurance which expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval of the pricing or terms and conditions of insurance products.
The Department of Finance Cost of Insurance Working Group Report on the Cost of Motor Insurance was published in January 2017. Based on recommendations from this report, the Advisory Committee on SPSVs met with Insurance Ireland on 22 May 2017 to discuss motor insurance costs relating to the taxi industry and a report on same was presented to me on 21 June. I have forwarded that report to the Minister of State at the Department of Finance and the Department of Public Expenditure and Reform, Michael D'Arcy, TD who is the chair of the Cost of Insurance Working Group. The Advisory Committee on SPSVs and Insurance Ireland have agreed that there should be ongoing engagement between them and it is my hope that this cooperation and engagement will help to address the concerns of taxi drivers regarding motor insurance issues including the cost of same.
Insurance Ireland operates a free insurance information service for those who have queries, complaints or difficulties in obtaining insurance. All calls regarding refusal to quote, or quotations that are so excessive as to be in effect a refusal, should be directed to Insurance Ireland by phone at (01) 676 1820, by email at declined@insuranceireland.eu or by post at 5 Harbourmaster Place, IFSC, Dublin 1, D01 E7E8 - quoting the Declined Cases Agreement.
