Politics

Committee to hold public hearings on cost of motor insurance

Group will report quickly, says John McGuinness, as price of motor cover rises 38%

A July protest in Dublin against sharp increases in the cost of motor insurance. File photograph: Dave Meehan/The Irish Times
A July protest in Dublin against sharp increases in the cost of motor insurance. File photograph: Dave Meehan/The Irish Times
Aine McMahon
Thu Sept 01 2016 - 23:27

The Joint Committee on Finance, Public Expenditure and Reform, and the Taoiseach Enda Kenny are to undertake public hearings this month to examine the rising costs associated with Irish motor insurance.

The latest figures from the Central Statistics Office (CSO) show the cost of motor insurance has risen by 38.3 per cent in just 12 months.

Overall, motor insurance costs are said to have risen by 70 per cent over just three years.

Committee chairman, John McGuinness they would examine all aspects of the motor insurance industry including how insurance claims were assessed and processed and the costs associated with claims, as well as how effective current regulation was. He undertook that the committee would report quickly to Government.