Is the Parliamentary Secretary satisfied that insurance companies are taking steps to reduce the loadings on premiums to first-time drivers, particularly to young drivers?

Substantially this is a separate question. The question refers to the requirements laid down in 1973 and those, as amended subsequently by the Motor Premiums Advisory Committee, have been implemented. The Deputy is introducing another question of further reduction in loadings.

I am concerned that motor car insurance premiums over the last two years increased by something more than 70 per cent. I would hope that the Parliamentary Secretary would see to it that loadings would be reduced, especially to first-time drivers and young drivers.

I can assure the Deputy that I share his concern in the matter. It is the case that in some instances loadings quoted by particular companies to young drivers are so prohibitive as to indicate that the company is not interested in taking on new business. This is most unsatisfactory. I have repeatedly said when speaking to the companies and the public that I want to see a motor insurance market which is truly competitive, one in which there is vigorous competition for business, particularly for first-time insurers. In order to achieve that, I requested last April the Examiner of Restrictive Practices to carry out a study into the level of competition in the motor insurance market in general and into certain particular matters of an anti-competitive nature. I hope to have his report either towards the end of this year or early next year.

Would the Parliamentary Secretary like to elaborate on some of these restrictive practices?

To do so would be to depart very far from the subject matter of the original question. I should be glad to do so in response to a specific question.