Motor Insurance Companies Walk Off With €2.5 billion Thanks to State Funded Initiatives
"Motor Insurance Companies have taken over €1.0 billion in profits and have artificially inflated their reserves by a further €1.5 billion since the penalty points system and the PIAB were introduced" said Cllr. Mick Murphy the National Organiser of MIJAG, the Motor Insurance Justice Action Group. "Considering that the Government ordered the Deloitte & Touche Report (1996) when profits exceed €30m back in the mid 90's, this complete bonanza of €832m each year is indeed a scandal and needs to be investigated far more urgently and more seriously by the Dáil Committee responsible" Cllr Murphy argued. Read more >>>

2003 Blue Book Released - €374m Profit by Motor Insurance Companies Last Year
The 2003 Blue Book which has just been published shows that premium income in 2003 was more than double the claims paid. It also shows that during the years 2001, 2002 & 2003 the reserves of the motor insurance companies doubled. On top of that they took €580 million in profit during those three years, which is way more than the total for the previous 30 years. Irish motor insurance companies are now over 100 times more profitable than their UK counterparts. Read more >>>

MIJAG welcomes decision by Allianz to insure under 25
As the result of a case taken by a young driver to the Equality Authority where First Call Direct (Allianz) refuse to insure him as he was under 25, Allianz have now changed their p olicy. They will now insure people under 25 but still do not insure first time drivers and have a restriction where only people with a two year no claims bonus can get insurance with them. However it is another small step in the right direction and is far removed from the situation 5 years ago when MIJAG was founded where everyone under 30 paid huge premiums irrespective of driving experience.

The problem remains that first time drivers are facing huge premiums from the two companies that will take them on. Many young drivers will have completed driving lessons and will have passed the driving test but will still be very heavily penalised. The majority will not develop an unsafe driving record and MIJAG has always argued that it is completely unfair to penalise all first time drivers just because of the antics on the road of a minority. MIJAG believes that all 1st time drivers should be charged the average premium (Approx. 800 Euro) and should only be loaded after safety related driving offences have been committed.

While MIJAG welcomes all small steps taken in the right direction it has to be put in the context that the biggest change in the past 5 years is the massive increase in the profitability of the motor insurance sector. More money has been made in the last 3 years than in the previous 30 years and the Irish motor insurance sector was considered very profitable by international standards when examined in the 90s. The industry can well afford to meet the demand of giving all first time drivers insurance at the average premium. Of course that will not happen until they are obliged to do so by law. So the big question remains, what are the Government to do apart from producing more reports on the issue

Motor Insurance 100 Times more Profitable in Ireland than in the UK
According to the MIAB report page 27, during the period 1983 to 1999 Motor Insurance in Ireland earned a profit of €25m on average each year which was 10 times the profitability of UK Insurers. In 2002 Motor Insurance earned €201m and last year €385m an increase of more than 10 fold making it more than 100 times more profitable to sell motor insurance here than in the UK Read more >>>

Fianna Fail Give Two Fingers to Young Drivers

The two fingers is all Fianna Fáil could offer young drivers when they sent no spokesperson to the MIJAG Public Meeting with Politicians which took place last Monday May 17th in the Red Cow Inn, Dublin. All Political Parties with the exception of Fianna Fáil and Sinn Féin sent representatives. Read more >>>

MONDAY MAY 17th 8PM - RED COW INN, DUBLIN - Public Meeting with Politicians
This Monday 17th May we will be holding a public meeting with politicians. Quiet simply we want to hear their view on the massive leap in motor insurance profitability and what they intend doing about it. Insurance company profits have leaped from €30 million in 1997 to €500 million last year at a time when many young drivers are still being asked to pay over €4,000 per annum for insurance.

Come along and tell the politicians face to face exactly how angry you are about this RIP-OFF.

All Motorists are Due One Year Free Insurance Due to Insurance Hike Scam
During the years 2001 & 2002 the reserves of the motor insurance companies almost doubled, growing by over €1 billion. They took over €200 million in profit at the end of those two years. Total figures for 2003 are not yet available but the big five motor insurance companies did announce record profits of over €500 million. During 2001 and 2002 there were massive premium hikes for everyone. There was a slight drop in 2003 but people still paid way more than in the late 90s. These premium hikes went to boost insurance company profits and reserves. It is clear from the 2001/2002 figures published in the Blue Books that they were not justified and should be returned to all of us. Read more here>>>

MIJAG welcome Equality Tribunal Age Discrimination Decision
"MIJAG welcome the decision published today by the Director of the Equality Tribunal in which a 77 year-old man won a case against Royal & Sun Alliance Insurance Plc for Age Discrimination under the Equal Status Act 2000.

Mick Murphy, the National Organiser of MIJAG said "This is a very important breakthrough for our campaign. This decision proves that insurance companies were engaged in a blatant policy of discriminating against people based purely on their age". In its decision, The Equality Tribunal ruled that the complete refusal of a quotation based solely on a person's age was not acceptable. MIJAG are aware of at least one other case where an insurance company have agreed to settle a case of age discrimination against a young person.

'Conspiracy' on Insurance Costs
"VESTED interests" are preventing establishment of the Personal Injuries Assessment Board, aimed at reducing the cost of insurance, employers' group IBEC claimed yesterday. Director of enterprise Brendan Butler accused "certain sections" of the legal profession of attempting to "discredit" any such board and prevent a reduction in the cost of insurance Read more here>>>

MIJAG Submission to the Joint Oireachtas Committee on Enterprise and Small Business March 14th 2003
MIJAG has made a sublission to the Joint Oireachtas Committee on Enterprise and Small Business. The Comittee are corrently investigating the insurance companies and the reasons for the high premiums. Click here to read the submission>>>

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