I am pleased to be able to speak about how we could solve some of the very real impacts of high costs for motorists. In the couple of minutes I have, I want to focus on how drivers are being ripped off on the issue of insurance. For many years, reform of insurance, particularly motor insurance, has been promised but in the end, each time, this caves in to the same vested interests. We have endless reviews but no real action. Irish consumers continue to pay some of the highest insurance premiums in Europe because claims still end up in costly court battles. Legal fees often exceed the compensation itself and payouts, even for minor injuries, are well above EU norms. For example, Central Bank data from 2023 shows that legal costs make up almost 60% of some small-claim payouts. This is because, in our system, litigation dominates. Around 90% of injuries claims go to court, compared with just 4% going directly to the Injuries Resolution Board. As a result, we have payouts for minor injuries which remain two to four times higher than the EU average, and insurers cite this as a key driver of the high premiums that motorists here pay. Despite there having been some reforms, insurers have not passed on savings. The average profit margin in liability lines is over 13%, and again, that is twice the international average. Insurance firms are recording double-digit profits here in Ireland, even as claim costs actually fall. The Government talks tough it but it refuses to challenge the industry or the legal lobby that is benefiting from keeping things exactly as they are. A new approach is needed, and the Green Party would argue that Ireland should adopt a no-fault compensation scheme for motor accidents. This would enable drivers and passengers to get quick and fair compensation without the legal battles and the endless blame game we are so familiar with. We should also empower the Injuries Resolution Board by making it the default and the binding route for most personal injuries claims. This would cut legal costs and delays. We should have standardised and capped compensation awards by aligning ourselves with EU norms. That would ensure fairness and it would also take away the jackpot elements that sometimes people experience, particularly for minor claims. There should be mandatory mediation of insurance disputes. This would help end more cases early and end them fairly. One thing we really need to improve on here is something the Greens would argue strongly for. We need transparency and accountability for insurers themselves. There should be a central database to monitor real costs and ensure that where there are premium reductions, they are actually being passed on to the motorists. There should be profit disclosure rules to stop hidden profit shifting through re-insurance or through reverse manipulation. What would the outcome of these measures be? It would lower costs for consumers and ensure fairer treatment for genuine claimants. We have to move away from the half-measures we have seen in the past. The proposals from the Green Party would mean fairer settlements through a no-fault system, consistent award levels and full transparency to ensure the insurance companies were passing savings back to drivers. It is time to stop protecting the industry insiders and to start delivering a fair deal for motorists, homeowners, small businesses and communities all over the country.

Sentiment score: 0.15