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08/03/2022
New Legislation To Prevent Increase In Motor Insurance Premiums
New legislation to prevent an increase in motor insurance premiums has completed its Final Stage in the Assembly, Infrastructure Minister Nichola Mallon has announced.
Motor insurance is a devolved matter for Northern Ireland. The purpose of the Motor Vehicles (Compulsory Insurance) Bill is to ensure that domestic statutory provision on compulsory motor insurance - as contained in the 1981 Road Traffic Order - remains effective. It does this by ensuring that the requirements of the Motor Insurance Directive, and any retained EU case law – are not taken into account when interpreting the compulsory motor insurance requirement in Northern Ireland. The Bill has completed its legislative passage today and is expected to become law by May 2022.
Speaking in the Assembly, Minister Mallon said: "This important piece of legislation will avoid an inevitable increase in motor insurance premiums, saving an estimated £50 a year on every driver's policy, an expense that motorists will without doubt want to avoid at this challenging time for households dealing with other soaring household bills.
"This legislation will also ensure that in Northern Ireland compulsory insurance requirements remain confined to the use of motor vehicles on roads and other public places. It will also provide clarity in the marketplace; and remove the risk to the Motor Insurers' Bureau against additional claims, some of which may be expected to be fraudulent, and which it is not funded to discharge.
"At a time when people across the North are facing price hikes, in food, fuel and energy, I have acted to protect them from another spike when it comes to motor insurance premiums. This comes on top of my recent decision to freeze transport fares and action to ensure that water charges are not introduced into Northern Ireland. With people struggling, it is critical that those of us with power use whatever power we have to protect people from additional spiralling costs."
Motor insurance is a devolved matter for Northern Ireland. The purpose of the Motor Vehicles (Compulsory Insurance) Bill is to ensure that domestic statutory provision on compulsory motor insurance - as contained in the 1981 Road Traffic Order - remains effective. It does this by ensuring that the requirements of the Motor Insurance Directive, and any retained EU case law – are not taken into account when interpreting the compulsory motor insurance requirement in Northern Ireland. The Bill has completed its legislative passage today and is expected to become law by May 2022.
Speaking in the Assembly, Minister Mallon said: "This important piece of legislation will avoid an inevitable increase in motor insurance premiums, saving an estimated £50 a year on every driver's policy, an expense that motorists will without doubt want to avoid at this challenging time for households dealing with other soaring household bills.
"This legislation will also ensure that in Northern Ireland compulsory insurance requirements remain confined to the use of motor vehicles on roads and other public places. It will also provide clarity in the marketplace; and remove the risk to the Motor Insurers' Bureau against additional claims, some of which may be expected to be fraudulent, and which it is not funded to discharge.
"At a time when people across the North are facing price hikes, in food, fuel and energy, I have acted to protect them from another spike when it comes to motor insurance premiums. This comes on top of my recent decision to freeze transport fares and action to ensure that water charges are not introduced into Northern Ireland. With people struggling, it is critical that those of us with power use whatever power we have to protect people from additional spiralling costs."
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
