Arthur Morgan
Ceist:160 Mr. Morgan asked the Tánaiste and Minister for Enterprise, Trade and Employment the steps she will take to deal with the scandalously high cost of motor insurance, particularly in respect of young drivers. [4948/03]
Written Answers. - Motor Insurance Costs.
I am aware of the high cost of insurance in the State and I am concerned about the difficulties this is causing for many people including young drivers.
On 25 October last, I announced my programme for fundamental insurance reform. The programme reflects the commitments given in An Agreed Programme for Government and comprises a comprehensive set of inter-related measures designed to improve the functioning of the Irish insurance market. The key measures include the establishment of a ministerial committee, chaired by me, to oversee implementation of the reform programme, including the 67 recommendations in the Motor Insurance Advisory Board, MIAB, report; publication of the action plan to give effect to the MIAB recommendations within a target time frame establishment of the Personal Injuries Assessment Board, PIAB, on an interim basis, pending preparation of the necessary legislation to put the PIAB on a statutory footing; and publication of the report of the implementation group on the PIAB. While EU law precludes the imposition of price controls on insurance, I have made it clear that I expect aquid pro quo from the industry in response to my reform programme.
I am committed to bringing about improvements in the functioning of the Irish insurance market. My Department in conjunction with the Competition Authority finalised terms of reference last December for a study being undertaken into the competitiveness of the Irish insurance market. The terms of reference are available at www.entemp.ie and www.tca.ie. The study will identify and analyse barriers to entry and limitations on rivalry in the insurance marketplace.