Noonan rules out re-establishment of committee to examine high insurance premiums

Finance Minister Michael Noonan has today ruled out the re-establishment of the Motor Insurance Advisory Board to examine the rising cost of premiums.

Drivers have seen substantial hikes in the cost of insuring cars, with some experiencing a doubling in the price of their policies.

Minister Noonan told the Dáil today that he has already ordered a review of the sector to see what needs to be done.

"The scope of the review is a review of the insurance industry with particular emphasis on why premiums are rising, particularly in recent months, in what many people consider to be, you know, in an unjustified way, but certainly rising very rapidly," he said.

"There'll be a particular emphasis on motor insurance."