Insurer cancels motorists' policies after devices show them speeding
Insurance company AIG is cancelling insurance policies for irresponsible and reckless driving.
This comes after analysis of 'black box' devices being used by young motorists to monitor their driving styles. They get discounts for safe driving.
But now AIG Ireland says it has cancelled more than 200 young drivers' policies for persistent excessive speeding.
It called for legislation to make these telematics-based devices mandatory for all drivers under the age of 25.
The insurer believes that by making telematics mandatory, many lives will be saved.
This comes after former president of the High Court Nicholas Kearns said the use of telematics could successfully tackle motor insurance fraud and bring down the cost of cover. He said the use of such devices would mean that careful drivers were rewarded with lower premiums.
Mr Kearns has been appointed by the Government to head up the Personal Injuries Commission, which has been tasked with comparing award levels here with those internationally.
Telematics involves attaching a device, sometimes called a black box, to a car to monitor the location, movements, status and behaviour of a vehicle.
The device records where it has travelled, how fast it has gone, how fast the brakes were applied, if the horn was used and whether the vehicle swerved or not.
AIG offers discounts to drivers who agree to have telematics devices fitted to their cars.
These link up with satellites and monitor their driving.
But the devices have also proved useful in detecting reckless driving. AIG has recently cancelled the policies of a number of young drivers for driving over the speed limit.
One driver had insurance cover cancelled after being detected driving at 193kmh on a motorway and 170kmh on a secondary road.
AIG general manger Declan O'Rourke said the use of telematics was a win-win for drivers.