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Motor Insurance Costs

Dáil Éireann Debate, Wednesday - 6 March 2019

Wednesday, 6 March 2019

Questions (277)

Robert Troy

Question:

277. Deputy Robert Troy asked the Minister for Transport, Tourism and Sport if his attention has been drawn to insurance premium increases being levied on licence holders who have swapped their driver licence for an Irish licence. [11233/19]

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Written answers

Insurance companies are private companies. Neither the Department of Transport, Tourism and Sport nor the Central Bank of Ireland has the power to direct insurance companies on the pricing of insurance products. The EU framework for insurance expressly prohibits Member States from adopting rules which require prior approval of the pricing or terms and conditions of insurance products. The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet those risks. These are considered by insurance companies on a case by case basis.

?Insurance Ireland operates a free insurance information service for those who have queries, complaints or difficulties in relation to 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 quoting the Declined Cases Agreement.

I note that the question refers to persons who have swapped licences, presumably from overseas, for Irish licences. Such circumstances only arise when individuals change residence and presumably therefore the level of risk to which they are exposed while driving would also change in those circumstances, with consequences for insurance premia.

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