According to reports this morning the Oireachtas Committee will call on key figures within the motor insurance industry, the Central Bank and the Department of Finance to discuss the continuing rise of car insurance premiums.
It us understood the committee will invite the Minister of State at the Department of Finance Eoghan Murphy, the Motor Insurance Bureau of Ireland, the Bar Council of Ireland and consumer groups to discuss the issue.
The news comes after the Chairman of the Oireachtas Finance committee John McGuinness, claimed the continuing hike in premiums is a “threat to the economy”.
Mr McGuinness said: “We need to establish the reasons behind the increase and to find proposals that work for everybody.”
“Some action has to be taken and we hope that we can provide a report making recommendations and action is taken on foot of it.
“The current costs are unsustainable and a threat to every aspect of the economy.”