There is definitely merit in Fianna Fail's appeal for the re-establishment of the Motor Insurance Advisory Board
"Unsustainable price competition is not in anyone's interest and ultimately leads to a weaker overall market." Mr McGrath added the Motor Insurance Advisory Board
, which was dismantled in 2013, needs to be reinstated.
But the groundbreaking Motor Insurance Advisory Board
report recommended the membership be extended and two years ago, representatives from the Consumers Association of Ireland (CAI) and the Financial Services Ombudsman were admitted.
"The Motor Insurance Advisory Board
report on young drivers revealed that 17 to 19-year-olds who drive on provisionals have 10 per cent more accidents than their peers who have taken and passed their driving tests.
Young drivers aren't the only ones to suffer, according to the Government-backed Motor Insurance Advisory Board
, and insurers are making profits on every class of driver.
The IRHA, Mr Delaney said, has made a submission on the survey findings to the Motor Insurance Advisory Board
, a copy of which had been forwarded to Tanaiste Mary Harney.
The establishment of the board was one of the recommendations contained in the report of the Motor Insurance Advisory Board
last year and it is estimated that it could cut legal costs - seen as a key contributor to high insurance premiums - by as much as EUR220m a year.
This week's report by the Motor Insurance advisory board
is as disturbing to read as the insurance quote for a cheap second hand, rusting jalopy.
Insurance firms here claim young motorists are a high-risk group but a recent Motor Insurance Advisory Board
(MIAB) report said this was "open to question".
Motor Insurance Advisory Board
chairwoman Dorothea Dowling made the accusation after a Bar Council report rejected a scheme aimed at reducing insurance costs.
A Motor Insurance Advisory Board
report, published in April, hit out at our costly and inefficient industry.
He also called for the implementation of the recommendations of the Motor Insurance Advisory Board