Richard Bruton
Ceist:147 Mr. R. Bruton asked the Tánaiste and Minister for Enterprise, Trade and Employment the trend in the cost of insurance as reported in the census of industry for each year since 1997. [18681/03]
Written Answers. - Insurance Costs.
Richard Bruton
Ceist:168 Mr. R. Bruton asked the Tánaiste and Minister for Enterprise, Trade and Employment the trend in the cost of the key categories of insurance (details supplied) in each year since 1997. [18680/03]
I propose to take Questions Nos. 147 and 168 together.
The pricing and underwriting of insurance is a matter for individual insurance companies and EU law prevents Governments from intervening directly in the matter.
I am not in a position to supply the Deputy with information on indices of insurance costs since 1997. The CSO, however, publish monthly indices of insurance costs for a number of classes.
The annual insurance report published by my Department contains information on aggregate insurance premiums paid to insurance companies in respect of various classes of business.
Notwithstanding this, one of the recommendations in the report of the Motor Insurance Advisory Board relates to gathering of statistics on motor insurance and claims costs by the Irish Financial Services Regulatory Authority.
On 1 May 2003, the IFSRA came into effect. It has a wide regulatory remit, covering consumer protection and prudential supervision of practically all of the financial services, including insurance, and the services provided by it.