Tallaght News
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SWIFT ACTION NOW NEEDED
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28TH. NOV. 2016 TEL: 01 451 3822 / 01 451 9000 email: info@newsgroup.ie web: www.newsgroup.ie
Dublin South West TD Seán Crowe has welcomed the launch of the Oireachtas Finance Committee report on Rising Costs of Motor Insurance but said that swift action was now needed to stop the rising fees and rip off Insurance premiums.
Deputy Seán Crowe said: “This is a timely report produced over a number of weeks
which outlines 71 recommendations that when implemented should reduce the cost of premiums. We now need these recommendations to be swiftly acted on and followed up on in a timely manner by a number of organisations including the Government. Some of the report’s key recommendations
include:
· An end to the “closed shop” mentality of the industry and calls for full transparency in relation to claims information; · Calls for the Central Statistics Office to be given a statutory role in collating insurance data; · That consumers be given a detailed cost information in renewal
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notices; · Calls for more proactive regulation of the industry by the Central Bank of Ireland with a greater focus on consumer protection; · That insurance companies be compelled to inform the consumer whether they have taken into account the mandatory medical assessments for over 70s drivers when calculating insurance premiums for this group; · That greater powers for the Personal Injuries Assessment Board (PIAB), with the objective of increasing the number of claims cases settled by PIAB, thereby reducing claims and costs generally; · That insurers be compelled to notify customers in advance of settling claims made against them; · That the Book of Quantum be reviewed and updated on a regular basis; · That recent changes to the monetary jurisdictions of the civil courts be reviewed.
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