Tuesday 25 October 2016

End the insurance rip-off: Minister vows to slash premiums and stop bogus claimers

Amy Molloy

Published 11/09/2016 | 10:24

Some premiums have increased by as much as 38.3pc this year. Stock Photo
Some premiums have increased by as much as 38.3pc this year. Stock Photo

The Government will introduce new laws to cut the cost of car insurance if insurers do not cooperate with its bid to lower premiums.

  • Go To

Junior Finance Minister Eoghan Murphy says drastic measures will be taken to tackle the issue of rising car insurance.

According to the first-time minister, lowering car insurance has been made a priority by the Taoiseach.

Speaking to the Irish Mail on Sunday, Mr Murphy pledged that by the end of the year fraudulent claimers will no longer be able to “play the system” and all motor premiums will be lowered.

Among the law reforms he wants introduced are:

*A central database which records all claims made and details the breakdown of pay-outs;

*Drivers being offered the best alternative prices without having to ring different insurers and bargain with them;

*Itemised insurance bills; bonus discounts for loyalty to an insurance company and restricting peoples ability to opt out of the Injuries Board, resulting in less claims proceeding to court.

“Make no mistake about it, if the different people who have a role in solving this problem aren’t playing their part, then we will have to get tough,” he said.

His comments follow a meeting of the Oireachtas Joint Committee for Finance, Public Expenditure and Reform earlier this week.

“One of the things we’ve discussed was what legislative powers will there be in the event that we need to do something dramatic because people aren’t moving quickly enough on this,” he stressed.

Back in July, motorists staged a convoy outside Leinster House to protest about surging premiums.

According to the Central Statistics Office, some premiums have increased by as much as 38.3pc this year.

With drivers unable to afford the premiums they’ve been quoted, there has been an increase in the number of uninsured drivers on the road.

The Motor Insurance Bureau of Ireland released statistics stating that the number of claims involving uninsured drivers has risen by almost 20%.

Online Editors

Read More

Promoted articles

Editor's Choice

Also in Irish News