Rose Conway Walsh (Sinn Fein) | Oireachtas source

I thank Mr. Jewell and Mr. O'Rourke for their attendance today. I found their contribution very interesting and welcome the submission they made to the committee. It is a welcome tonic in the face of some of the absurd claims that are being made about the reasons behind the hikes in insurance costs. The witnesses have made a powerful case that the insurance industry has many of the characteristics of a cartel. It does not share information, it has been censored by the Competition Authority for signposting increases and has been accused of exclusionary tactics. Do the witnesses agree that the industry displays some of the characteristics of a cartel?

Do the witnesses think that the Financial Services Ombudsman should be playing a more proactive role in this? In a report published last year, the Law Reform Commission proposed a number of changes to protect consumers entering into insurance contracts. Is there a legal way to empower consumers from day one, when signing on the dotted line? Is there currently an imbalance in favour of the insurer in standard contracts?

We all agree that the data issue must be fixed as soon as possible. Where are the blockages in that regard?

While this committee is looking at motor insurance, it will not have escaped anyone's attention that house and health insurance premiums are also on the increase. My party believes that the increase in motor insurance prices is mainly due to changes in the investment environment. If so, it is only a matter of time before the other insurance sectors catch up. Have the witnesses looked into that issue?