Vol. 524 No. 1
89 Mr. Durkan asked the Tánaiste and Minister for Enterprise, Trade and Employment the extent to which motor insurance costs have come into line with those prevailing in other EU member states; and if she will make a statement on the matter. [21854/00]
Concerns about the level of premiums for motor insurance have caused our Department to examine the factors contributing to the relatively high level of those premiums, especially as compared with premiums in other EU member states. The main objective of the Motor Insurance Advisory Board, which I re-established in 1998, is to examine the contributory factors to the cost of insurance in Ireland and also to examine possible initiatives towards reducing premiums.
It must be stressed, however, that comparison of Irish motor insurance premiums with those in other EU member states is not always feasible, because of different systems, for providing compensation. I am examining ways of making our system more efficient.
I am anxious to encourage as many insurers as possible to compete on the Irish market so that the most competitive quotes are available to the Irish consumer. The implementation of EU legislation and opening up the EU market to competition from all European insurers has made this possible.
