Deputy Niall Collins: 'government has washed its hands of the issue'
THE National Claims Information Database faces further delay according to Fianna Fáil TD, Deputy Niall Collins.
Deputy Collins has expressed frustration that a key measure to tackle high insurance costs has not yet been set up. The National Claims Information Database is not yet up and running and there is no sign of it being set up in the near future.
“Insurance continues to be a critical issue for businesses and consumers. Many businesses, charities and sports clubs have reported colossal increases in their insurance bills and sadly, because of this, some have gone to the wall,” Deputy Collins said
“The insurance market is plagued by a lack of transparency. As a result, we cannot assess the level of claims in Ireland. This is important for potential entrants who wish to assess the Irish market. The lack of such transparency simply puts off potential entrants and stifles competition. More competition will bring down costs for businesses and consumers,” he added.
The National Claims Information Database was supposed to provide this transparency and assess the level of claims in the Irish market, according to Deputy Collins.
“The level of insurance claims is a key driver of insurance premiums and understanding the trends surrounding claims will make it much easier for potential newcomers to assess the Irish market.
“This database was to be up and running in the second quarter of last year. Unfortunately, the government only got around to legislating for it in July last year and the legislation was finally enacted last December. Based on the response we have received the government has completely washed its hands of the issue.”