False insurance claims need to be penalised very heavily in this country, according to independent TD Michael Fitzmaurice.
The Roscommon-Galway TD was interested to note comments made by the Minister of State at the Department of Finance, Michael D’Arcy regarding the potential need for a referendum in order to introduce a strict pricing structure for successful insurance claims in Ireland – as well as how quick opposition to the move emerged following the minister’s comments.
“The reality for each and every one of us that pays insurance in this country is that our premiums are going up and have been going home on a consistent basis over the past few years.
“Premiums have been on the rise because of the amount of claims that are lodged in this country, as well as the sometimes outrageous payments that have been paid out on insurance claims,” Deputy Fitzmaurice said.
He outlined that most people have been left dumbfounded on more than one occasion after hearing the decision of some insurance claims – along with the size of the payouts.
Continuing, the independent TD said: “The time has come where we must ensure that we try and bring insurance premiums down to affordable levels for businesses owners, homeowners and motorists.
“This can be done by making sure that the book of quantum – which I know is being revisited at the moment – is implemented fully.
“If it is not being adhered to by the judiciary, then I have no problem with making sure that there is a referendum to put a price structure in place so insurance claims to do spiral out of control.
“This might sound like a heavy-handed approach, but day in and day out we hear of people who are genuinely crippled by the escalating price of insurance.”
Deputy Fitzmaurice rued the fact that expensive insurance premiums have driven some trucking businesses of this country.
Concluding, he said: “At the end of the day, you would have to question some of the claims that have been paid out in the courts.
“We need to make sure that false claims are penalised very heavily. Sometimes hard medicine has to be administered so a better future can be secured for all of our citizens.”