The Official Website
Frank O’Rourke TD has said that this year must be the year we finally deal with the cost of insurance in Ireland
Recent years have seen unsustainable increases in the cost of insurance.
“Since getting elected, I have persistently raised the high cost of insurance, not just in relation to motor insurance, but also in relation to the cost of insurance for businesses, community and sport organisations.”
Continue reading “O’ROURKE SAYS TIME TO TACKLE INSURANCE COSTS”
Frank O’Rourke TD has again called on the Government to focus on reducing the cost of insurance and implement the recommendations of the Cost of Insurance Working Group
Frank commented, “Rising costs of insurance for businesses leads to rising costs for everyone as these costs are invariable transferred to the consumer which increases the costs of living.”
Continue reading “O’ROURKE URGES GOVERNMENT KEEP FOCUS ON REDUCING INSURANCE COST”
Frank O’Rourke TD has welcomed the Central Bank rules requiring insurers to give customers more information when renewing their policies which come into effect today
However Frank said more needs to be done to reduce the cost of insurance.
“Insurance companies will now have to provide details such as the premium paid the previous year with an upfront comparison. They will have will also have to provide the cost of different levels of cover, a comprehensive quote, a third party fire and theft quote, and one for third party only cover.”
Continue reading “O’ROURKE WELCOMES NEW RULES ON MOTOR INSURANCE”
Frank O’Rourke TD has again highlighted Government lack of action in relation to reducing the cost of insurance as there is no sign of the National Claims Information Database being set up
Frank commented, “Insurance continues to be a critical issue for businesses and consumers. I know from my weekly clinics the negative effect of the high cost of insurance. It is putting excessive cost pressure on small businesses and putting a unfair burden on motorists.”
“The National Claims Information Database was supposed to be set up to provide transparency about the level of claims in Ireland. This was an important policy commitment to attract new entrants into the Insurance market in Ireland, and would not just bring down premiums but would also help tackle insurance fraud.”
“This National database was to be up and running last year. The Government seems to have washed its hands of setting up this database. As stated by our Finance Spokesperson, Michael McGrath TD, this database should be managed and controlled by the State, not by the insurance industry, and avoid competition law issues.”
“I will continue to press the Government to implement the recommendations from the Cost of Insurance Working Group. We need greater focus on reducing insurance costs as the average annual cost of motor insurance now stands at €750 compared with €450 in 2014, an increase of nearly 70%.”
Deputy Frank O’Rourke has called on the Government to give greater priority to reducing the cost of insurance
Insurance costs in Ireland remain stubbornly high as the Government last week published its most recent report from the Cost of Insurance Working Group.
“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.”
“A mechanism to set up an anti-fraud unit within An Garda Síochána was to be approved by the third quarter of 2017. This has yet to be achieved and no solid timeline has been put in place for the approval of such a mechanism, much less the establishment of a unit.”
“Motor insurance costs have been a major issue for drivers in Ireland over the past number of years and Fianna Fáil has been to the fore in pressing the government to take action. The lack of action in relation to the recommendations of the working group is unacceptable.”
“The message must go out to all, that we are determined to get fairer motor insurance premiums for Irish motorists. Many Kildare motorists continue to make contact with me in relation to their rising costs, and I am determined to keep a focus on this important issue for them.”
“High motor insurance premiums have not gone away. The government has shown no sign that it is on top of this issue, as many continue to face unsustainable high insurance premiums. This is a direct threat to our competitiveness, and increases the cost of living, and must be addressed,” concluded Deputy O’Rourke.