asked the Minister for Industry and Commerce the percentage by which motor insurance rates have increased in each of the past five years.
Ceisteanna—Questions. Oral Answers. - Motor Insurance.
41.
The following are the increases in basic motor insurance rates sanctioned by me over the past five years:
ten per cent on third party and 15 per cent on comprehensive motor rates as from the 1st January, 1969;
a further 17½ per cent on both third party and comprehensive rates as from 1st June, 1970.
I am aware, however, that several companies have applied loadings to premium rates for certain categories of risk in the light of adverse claims experience but the level and extent of these loadings vary widely from company to company and it would not be possible to estimate an overall percentage increase.
In view of the fact that the Press seem to be aware of the recommendations of the inquiry, is the Minister not able to tell us the result of the inquiry?
I got the report of the committee on Friday and I have been endeavouring to peruse it. I have asked my Department to peruse it and to make observations to me without delay. I might add that it is a very comprehensive report.
Can the Minister tell the House if he will be in a position to make proposals in this respect during the present Dáil session?
I do not think I could do so during this session. I saw the comment in the Press which could not possibly have got the report. I can tell the Deputy that the Press reports are not in accordance with the facts.
In view of the fact that most insurance premiums, that is, motor premiums, are renewed with effect from the beginning of the year, would the Minister make an extra effort to have proposals formulated?
I am extremely anxious to have the report assessed as soon as possible.