Fianna Fáil secures Dáil debate on spiralling insurance costs

Fianna Fáil has secured a Dáil debate on insurance costs this week. TD for Cavan-Monaghan Brendan Smith has welcomed the fact that the debate has been included in the Dáil Business tomorrow, as it is an issue which is affecting hundreds of families across Cavan and Monaghan.

Deputy Smith explained, “Insurance costs have been spiralling for some time now, and over the course of the last few years we have continued to see prices increase at an unprecedented rate.  Every single sector has been affected – health, motor, home, business and farm – to the point where some people have been priced out of the market.

“Motor insurance costs have rocketed in the last year – with premiums increasing by over 32%.  Some drivers have seen their policies rise by 50%.  It is now costing families, here in Cavan, Monaghan and right across the country, hundreds of euros more to insure their car than it did 12 months ago and these rises are simply unsustainable.  What’s worse is the fact that while these costs continue to soar, the Minister for Finance has adopted a hands-off approach to the issue.

“Fianna Fáil has set out a number of measures which we believe would have a positive influence on the insurance sector including improved regulation and tougher action on exaggerated claims.

“I am pleased that this important debate has been granted and I look forward to frank discussion and engagement to ensure that insurance costs can be brought under control and that consumers are not only protected, but will be able to avail of value for money instead of being ripped off for essential insurance cover”.