Motor insurance working group must act to address extortionate costs – Smith

Fianna Fáil TD for Cavan-Monaghan Brendan Smith says the new working group to examine the cost of insurance must not delay in coming back with recommendations.  The group was established on foot of a Fianna Fáil Private Members Motion last month and met for the first time this week.

Deputy Smith commented, “Motorists across Cavan and Monaghan are being crippled by soaring insurance costs.  Over the past few years premiums have increased dramatically –this year alone they’ve risen by a staggering 38.8% to the end of June and by 2.5% in the month of June alone.  This is simply not sustainable.  Drivers are struggling to afford these extortionate costs, which have continued to climb month on month.  Soon, insurance will be simply out of reach for the average motorist.

“I’m pleased that the working group has been set up.  Insurance costs are an issue which my party has been raising time and time again.  The previous government ignored the plight of motorists for five years so movement on the issue is welcome.  However, this group cannot be allowed to sit on its hands.  We need solid recommendations, which can be implemented without delay.

“The group must examine all the factors which have led to these exorbitant price hikes and find ways of redressing this imbalance.  We need a clear timeline for the group to report back so that tangible action can be taken to protect drivers and to end to scourge of these soaring costs.

“Fianna Fáil has been leading the charge on tackling motor insurance costs and will support any proposals in the Dáil which will effectively deal with this rip off culture.  We will continue to hold this government to account and will keep the pressure on over the summer and into the autumn on this important vital consumer issue.”