Taxi Firm at Risk from Insurance Premium Increases Motor Insurance

Taxi Firm at Risk from Insurance Premium Increases Motor Insurance

A taxi firm from Limerick are considering shutting down since their premiums have increased from € 7,000 to € 31,000 in 2015. That insurer has exited the market and no insurer is willing to take on the risk. The firm has had no losses at all in eleven years and has eight cars which would mean loss of employment.

The case has been mentioned in the Dail by Niall Collins TD.

Deputy Collins urged for the re-establishment of the Motor Insurance Advisory Board, MIAB. He said this would “give people a degree of transparency and certainty”.

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