AQW 22568/17-22

Mr Andrew Muir
Alliance Party
North Down

Tabled Date: 15/09/2021
Answered On Date: 27/09/2021
Priority Written: No

Question:
To ask the Minister for Infrastructure whether officials from her Department have had conversations with the insurance industry to explore ways to bring down insurance costs for young HGV drivers.

Answer:

The Department has not had any conversations with the insurance industry regarding reducing the insurance costs incurred by young HGV drivers.

Insurance is a private sector, commercial transaction and the insurers are free to set their own rates based on their assessment of risk factors. Regulation of the sector is provided by two regulatory bodies; the Prudential Regulatory Authority and the Financial Conduct Authority.

The Department has no remit in this matter.