Increasing costs of motor insurance hasn't gone away - says Kildare TD

Local Fianna Fail TD, Frank O’Rourke, has again called on the government to focus on reducing the cost of insurance and implement the recommendations of the Cost of Insurance Working Group.

“Rising costs of insurance for businesses leads to rising costs for everyone as these costs are invariably transferred to the consumer which increases the costs of living” he told KildareNow.

"The cost of both motor insurance and business insurance remains stubbornly high for households and businesses across the country. The average annual cost of motor insurance now stands at €750 compared with €450 in 2014, an increase of nearly 70%.”

He continued: “We see profits of Insurance companies increase significantly. We need the insurance companies to share the profits with their customers, rather than leaving high premiums in place for hard pressed consumers.

“In addition, we continue to press the government to implement recommendations of the Cost of Insurance Working Group. Implementing the recommendations will reduce the premiums.”

“My colleague, our Finance Spokesperson, Michael McGrath TD continue to press for action to reduce the cost of insurance.”

"Reducing the high cost of Insurance is a priority for Fianna Fáil and for myself and it needs to be urgently addressed" concluded Deputy O’Rourke.