Posted on

O’Rourke – Government has failed to tackle High Insurance costs

Insurance costs in Ireland remain stubbornly high as the Government last week published its most recent report from the Cost of Insurance Working Group. Deputy O’Rourke has called on the Government to give greater priority to reducing the cost of insurance.

“My concern is that the elevated motor insurance costs that we now have, will become the norm. Since being elected, I have persistently raised the unacceptable rise in the cost of motor insurance. I pressed the Government to partner with other EU countries to fight the rising costs, and to-date we have received a deafening silence.”

“The National Claims Information Database is one of the key recommendation of the working groups report. The legislation to establish the database was supposed to be enacted by the end of 2017. Now it seems it will not be even introduced until the second half of 2018 and that time-frame is far from certain.”
Continue reading “O’Rourke – Government has failed to tackle High Insurance costs”

Posted on

Frank O’Rourke – Collaborate with other EU members to reduce Car Insurance

Local Fianna Fail TD, Frank O’Rourke, has called on the Government to step up its efforts to tackle the high motor insurance premiums in Ireland, by working in collaboration with other EU countries on the issue.

“We are now more than a year after the publication of the Cost of Insurance Working Group Report and the progress to-date on the cost of motor insurance is to say the very least, very modest.”

“The Government recently followed my proposal and is now working with Belgium, the Netherlands, Luxembourg and Austria on reducing the cost of medicines. I proposed this approach last year to assist in reducing the cost of motor insurance and I am now calling on the Government again, to work with other EU countries to reduce the cost of insurance. Having a co-ordinated approach with other countries against the powerful insurance companies will, in my view, pay dividends.” Continue reading “Frank O’Rourke – Collaborate with other EU members to reduce Car Insurance”

Posted on

Elevated Car Insurance rates can not become the norm – O’Rourke

Frank O’Rourke TD has called on the Government to provide a renewed focus on reducing the cost of motor insurance further, as the average premiums are still €300 higher now than they were in 2014.

“I appreciate that recent CSO figures show that the cost of car insurance fell by approximately 12% over the last year, but the average annual cost of insurance now stands at €750 compared with €450 in 2014.”

“My concern is that this elevated motor insurance cost will become the norm. Since being elected, I have persistently raised the unacceptable rise in the cost of motor insurance.  Last month, I pressed the Government to partner with other EU countries to fight the rising costs, and we received a deafening silence.” Continue reading “Elevated Car Insurance rates can not become the norm – O’Rourke”

Posted on

O’ROURKE URGES OPENING UP CAR INSURANCE MARKET TO EU

Frank O Rourke TD has called on the Government to consider opening up the EU Car Insurance market for Irish drivers, following the unprecedented increase in car insurance premium in recent years

‘The most recent figures on motor insurance, show premiums have raised by almost 40% in the last year, as the underlying rate of inflation stands at 0.5%. In fact the main cause of this 0.5% inflation relates to the rising cost of insurance overall.’

‘It is not unusual for young people in their early 20s to be asked to pay anything between €6,000 and €12,000 a year for their car insurance. This premium level is not an option for many young people, many of whom require cars for their educational, work or family purposes, as I have established at my clinics in recent weeks.’

‘I know from liaising with my colleague Deputy Michael McGrath, that the claims which are being paid out have reduced in recent years, from claims paid out of €1.5 billion in 2011 to claims paid out of €1.01 billion in 2014. Insurance companies have also returned to profitability. This should have led to reduced premium costs not increased premiums.’

‘I raised this matter in the Dáil recently and called on the Government to re-establish the Motor Insurance Advisory Board (MIAB). Given the track record of the MIAB in the past, it seems to me to be an imperative action for this Government, if we are going to make progress on reducing the motor insurance costs.’

‘I also believe that we should look at opening up the insurance market to the EU, whereby, we could purchase our insurance in Germany or France and that it would cover our driving in Ireland. This would have the effect of increasing competition in the market and should reduce premiums from their current high levels.’

‘Rising cost of insurance reduces net income available for people to spend on other life’s essentials and is key driver to increasing the cost of doing business in Ireland. As I said in my Dáil contribution, there is little point in the modest reduction in the USC in the last budget being transferred to enhance the profit of the Insurance companies.‘ concluded Deputy O’Rourke, who is committed to raising the issue in the Dáil again in the next session.

Posted on

LAWLESS RAISES RETURNING EMIGRANTS’ INSURANCE WOES

In a recent Dáil debate on soaring motor insurance costs James Lawless TD called on the Minister for Finance Michael Noonan T.D. to examine the issue whereby emigrants returning home from other European Union countries are unable to secure motor insurance back home in Ireland

James Lawless TD, “I have encountered a number of situations in my clinics which are crucial to this debate. One is the situation of emigrants returning from abroad. Thanks to the putative economic recovery we are beginning to see some people returning home. Many people spent the recession abroad, including in the EU. One individual approached me recently who, on his return from spending six years in Spain, found that he was unable to get insurance cover in Ireland. He has a clean driving history and a full no-claims bonus, but it is non-transferable even within EU states.”

“Surely within the EU we could align our no-claims bonus provisions and driving history to the extent that we should be able to address such cases. I ask the Minister to examine that issue. Hopefully, it will be presenting more frequently as many more people return home after working abroad.”

“It now falls to the Minister to move on this issue and I will continue to raise it to enable returning emigrants live up to the EU promise of freedom to work, travel and live within the union without coming up against as basic a blockage as this on an individual’s budget.”