Govt delays on insurance is failing to reduce costs – Smith

Alliance for Insurance ReformFianna Fáil TD for Cavan-Monaghan Brendan Smith says the government’s lack of progress in implementing the recommendations of the Cost of Insurance Working Group is resulting in people continuing to pay out huge insurance premiums.

The Cost of Insurance Working Group was set up following repeated calls from Fianna Fáil for action on high insurance costs.

Deputy Brendan Smith commented, “The Cost of Insurance Working Group published its first report in February 2017 and we are still waiting for all of the recommendations to be implemented.  These delays are resulting in people paying unjustifiably high premiums as a result.  Fine Gael does not appear to appreciate the urgency with reforms are needed.  It took a Fianna Fáil motion on the issue to force them to establish the Cost of Insurance Working Group in the first place.

“I have submitted a series of Parliamentary Questions to the Minister relating to the progress in implementing the recommendations in the reports, and the measures being undertaken to tackle fraudulent claims.  While actions are being taken, they are not moving quick enough.

“Earlier this year my party produced the Civil Liability and Courts (Amendment) Bill 2018, which is designed to deter people from making fraudulent insurance claims and we want to see this progressed through the Dáil.  However, we also need to see all of the recommendations in the Cost of Insurance Working Group’s reports implemented.

“Insurance premiums are continuing to rise, maybe not to the same degree as in 2016 and 2017, but they are still going up.  This is having an impact on drivers, business people and local and community groups.  They are all paying a high price for these endless government delays.

“I am calling on Minister D’Arcy and his government colleagues to wake up to the seriousness of the problem and to work on implementing these essential recommendations as soon as possible to ease the burden on insurance customers right across the country”.

Insurance costs

 

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