PRESS RELEASE - 17/April/2002 "Young Drivers call for price control on Motor insurance following publication of MIAB Report" "It is difficult to have any great confidence that the high cost of insurance will alter radically in the near future as the current situation suits to many interests" is a quote from the executive summary of the long awaited MIAB report. "MIJAG welcomes the publication of the report and congratulates the MIAB Committee for its good work. It is official now that Ireland has a very expensive, in-efficient and profitable motor insurance industry that is in need of radical surgery. Unfortunately if every one of the 67 recommendations in the report were implemented, there is no guarantee that young drivers paying €3,000, €4,000 and €5,000 for insurance would pay less. In that sense the report does not go nearly far enough" said Mr Murphy. "This Government and the one before it wrote reports on this issue but are unwilling to tackle the huge and well organised vested interests involved. The young drivers will continue to mount huge political pressure including backing candidates such as David Green in order to force the Government to take action that will effect the cost of insurance" Mr Murphy said. "MIJAG believes that no driver with a clean driving record including beginners should have to pay more than €1,000 for insurance. That demand will only be won when young voters who are being ripped off force the Government to act. The MIAB could have recommended price control as a way of bringing about a quick change in the situation but ruled it out. If the Government are serious about tackling this and now they have no excuses, they should do something dramatic like introducing price controls before the election is called" Mr Murphy added. Back to Press Release Index