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[Article] Committee calls for 1999 insurance prices

  • 16-07-2004 7:59pm
    #1
    Victor
    Registered Users, Registered Users 2 Posts: 78,580 ✭✭✭✭


    http://www.rte.ie/business/2004/0716/insurance.html
    Committee calls for 1999 insurance prices

    July 16, 2004 16:20
    An Oireachtas committee wants the insurance industry to reduce its premiums to 1999 levels and has recommended measures to improve road safety.

    In its second interim report on the Irish insurance industry, the Joint Committee on Enterprise and Small Business also said that it welcomed the recent fall in costs for private motor insurance and public and employer liability insurance.

    In its recommendations the committee called for an inquiry into the level of insurance awards in Ireland compared to other European countries, a dedicated traffic corps, and stronger road safety legislation.

    The committee said that the level of uninsured cars in the country was estimated to be be as high as 10%. It is examining the possibility of making insurance companies inform the Government when insurance for any vehicle is not renewed.

    Such a procedure is currently in place in New York state where the Department of Motor Vehicles receives information from insurance companies of non-renewal of insurance.

    Michael Kemp, the chief executive of the Irish Insurance Federation, said that motor insurance premiums had already dropped back to 2000 levels and welcomed the committee's recommendation that the 2% government levy on insurance premiums be abolished.


Comments

  • #2
    Bee
    Closed Accounts Posts: 430 ✭✭Bee


    Its not only motor insurance that people are being screwed by, its also public liability insurance, up 291% since 1999

    The motor insurance scams run by the various companies beggars belief. I look forward to reductions but I will believe it when I see it.


    Bee


  • #3
    mike65
    Closed Accounts Posts: 88,972 ✭✭✭✭mike65


    Michael Kemp, the chief executive of the Irish Insurance Federation, said that motor insurance premiums had already dropped back to 2000 levels and welcomed the committee's recommendation that the 2% government levy on insurance premiums be abolished.

    I thought we were still paying that! Its so long ago I can't be sure but was'nt that levy introduced as a result of the PMPA collapse?

    Mike.


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