Finance Committee to review motor insurance progress report with Minister

The Committee will engage on the First Progress Update on the Review of the implementation of Cost of Insurance Working Group.

Eoghan Murphy TD, Minister of State with special responsibility for Financial Services, eGovernment and Public Procurement, will attend.

Speaking ahead of the meeting, Committee Chairman John McGuinness TD, said, “In November, our Committee launched our report on the Rising Costs of Motor Insurance in response to the dramatic increases in the costs of premiums and the resulting impact on consumers nationwide. Many of the recommendations contained in the Committee’s report were subsequently incorporated into the Department of Finance Cost of Insurance report published in January 2017.”

“The Progress Report we will examine tomorrow is the first quarterly progress update from the government for the period January–March 2017. Committee members will wish to hear what progress has been made in ensuring that premiums are held at a level that is fair, affordable and sustainable. Tomorrow’s meeting provides an opportunity to review the implementation of recommendations and the associated timelines. The Committee agreed following the publication of its report to monitor and engage with the Minister at regular intervals to review progress and ensure that consumers are able to avail of reasonable premiums.”

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