Insurance inaction 'will be punished at polls'

27 February 2002: Candidates who ignore the 'unacceptable state' of insurance costs for drivers will suffer the consequences at the ballot box, National Youth Council of Ireland representatives told Minister of State Noel Treacy TD yesterday during what they term a ‘crisis meeting’.

NYCI highlighted what it called ‘the growing frustration of drivers’ at the failure of the Government to take on ‘vested interests’ in the insurance industry, which the organisation says ‘exploits’ young drivers.

"The outrageous and unsustainable cost of motor insurance for all drivers is going to be a major election issue ", James Doorley, NYCI President told the Minister. “Any candidate, party or government that ignores the frustration of drivers on this issue will hear from the electorate, especially young voters, at the ballot box.

NYCI put forward a range of measures it wants implemented immediately: abolition the 2% levy on all motor insurance policies; cracking down on insurance companies who charge interest rates of 20% on policies paid by instalment; introducing a rebate for young drivers with a good record to encourage safe driving; establishing the Personal Injuries Assessment Board immediately to cut down on the legal cost of claims; immediate investigation of the insurance industry by the Competition Authority; strong consumer protection and representation when the Financial Regulator for the Insurance Industry is established.

NYCI also called on Minister Treacy to publish the report of the Motor Insurance Advisory Board immediately and implement its recommendations.

February 2002