Government levy on Insurance policies.

kluivert

2% levy on insurance policies.

I never remember seeing this on my policy before. Maybe it was just included
in the premium.

Is every one aware of this already.

Nuttzz

This has been around since the 80's AFAIR, something to do with the government proping up the insurance corpoation of ireland i think

mike65

The levy was introduced in 1985 after the collapse of Insurance Corp of Ireland. Its a fvcking scandal thats its still in place.

My I suggest we start a campaign to end the levy. Nothing to fancy just a series of letters to motoring writers/finance writers. E mails to the Minister for Hardship er Finance. All using all the forums we know of in the state to spead the word.

Mike.

Seth Brundle

mike65 wrote:

The levy was introduced in 1985 after the collapse of Insurance Corp of Ireland. Its a fvcking scandal thats its still in place.

My I suggest we start a campaign to end the levy. Nothing to fancy just a series of letters to motoring writers/finance writers. E mails to the Minister for Hardship er Finance. All using all the forums we know of in the state to spead the word.

Mike.

Probably no point - our Minister for Obesity tried to reduce insurance premia when she was Minister for E.T.E. (or whatever). It was one (instant) reduction they could have brought in and they didn't because frankly they know they can get away applying extra tax burdens on motorists because the motoring lobby here is non-existent!

Bogger77

the levy pays for accidents caused by uninsured drivers. I as one who had to claim against this, is more than happy it exists.

lets deal with root cause, the % of unisured drivers on our roads.

Seth Brundle

Bogger77 wrote:

the levy pays for accidents caused by uninsured drivers. I as one who had to claim against this, is more than happy it exists.

lets deal with root cause, the % of unisured drivers on our roads.

The insurance industry themselves (through our premia) pay the IIF uninsured drivers fund.
The 2% is a Govt levy as mentioned before to bail out the collapsed Insurance Corporation of Ireland in 1984. See http://archives.tcm.ie/irishexaminer/2002/01/18/story21370.asp

Mailman

The levy does not pay for uninsured drivers - it is a tax that goes to the government.
The insurers fund the uninsured drivers fund.

The levy is not needed to bail out insurers who go to the wall because the government checks the insurers to make sure their reserves are adequate to meet their commitments.
Anyhow, the insurers retain huge reserves even though they don't need to because it is tax efficient way of retaining profit.

McDowell has no interest in dropping this levy even though I pointed out to him dropping it was part of an election promise they made back in 2002.

Seth Brundle

Mailman wrote:

McDowell has no interest in dropping this levy even though I pointed out to him dropping it was part of an election promise they made back in 2002.

Is the levy under Herr Flik's brief?

Mailman

He's on the inner cabinet. I was corresponding with him.

Lex Luthor

Is the 2% levy increase to come into force from tonight?

My insurance policy is due in the next 10 days and I'm still shopping around but as of yet have not found anything better, so I was just going to pay, but wanted to wait until the last day

ShayK1

OMG, did you look at the date on the last post? 2005!! Wow, boards posters can see into the future.....

the 2% is already in affect. Its not new, and either is this thread.

unkel

ShayK1 wrote: »

OMG, did you look at the date on the last post? 2005!!

Indeed. Lockety-lock