The continued high costs of motor Insurance is unacceptable and requires urgent Government action, according to Local Fianna Fail TD, Frank O’Rourke following a meeting with Michael McGrath TD, Fianna Fail’s Spokesperson on Finance.
‘I welcome the establishment of the Cost of Insurance Working Group, and I believe that it is making progress. This group had to report to the Minister for Finance at the end of October and over the next two months will agree on an action plan, which must lead to a reduction in Motor Insurance.’
“Tangible and practical measures must be identified by the Working Group to help alleviate the pressure motorists are under at the moment. As I said again recently in the Dail, there is little point in reducing Universal Social Sharge (USC), if motor insurance premiums go up by a multiple of the reduction in USC.’
‘Ratings agency Standards and Poor’s predicted further premium increases of between 10% and 15% by the middle of 2017. This is on top of the estimated 40% increase in premiums over the last year or so.’
“Whatever the Working Group puts forward in its action plan, it must have practical measures that help reduce premiums in the short term as its priority.”
“We have seen ridiculous increases in the cost of motor insurance over the past year. It comes up at my weekly clinics and is causing significant financial pressure on drivers, and their families.”










