asked the Minister for Industry and Commerce if he is aware that the tariff insurance companies propose to increase the rates of insurance for motor vehicles on and after 1st December, 1951, and whether in view of the fact that rates are fixed for the tariff offices by an association operating outside this country he will institute an official inquiry into the alleged unfavourable experience given as the reason for increasing the rates.
Ceisteanna—Questions. Oral Answers. - Motor Insurance Rates.
I have been informed that the tariff insurance companies propose to increase the rates of premium for motor vehicles as from 1st December, 1951. The increased rates are, I understand, being introduced at the instance of the Irish Standing Committee of the Accident Offices Association. While I do not consider that it is necessary to have an official inquiry of the kind suggested by the Deputy, I intend to have the position reviewed in my Department when the companies' accounts are available.
Is the Minister aware that this instruction has come from an organisation outside this country?
I do not think so. So far as I know the decision was taken by this body, the Irish Standing Committee of the Accident Offices Association.
It came from outside this country.
No.
The Deputy can be sure that the examination of the position which I intend to make when the accounts are available, and the accounts are not due until the end of the year, will be based entirely on the information they give as to the experience of this office in this country.
Has the company to get the Minister's approval before bringing it in?
No.