John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

People will be looking for the various actions that will bring about an immediate downward adjustment to their premiums. While both the Minister of State and our reports are excellent starting points, the reports will be judged by the action the Minister of State takes. It is important that he avails of the opportunity to spell out what actions have been taken to date and what the outcome is. What is the response of the insurance industry? Since we have met, premiums are going up and, during the hearings, the committee came under pressure to include in our deliberations the cost of insurance to pubs in Dublin and other areas. We received numerous letters from the public giving us real examples of how they were being ripped off by insurance companies.

I have not seen any change of attitude from the companies. In fact, I would say their attitudes have hardened. In the actions outlined and taken to date by the Minister of State does he get any sense the insurance companies are taking note of his work and his determination to decrease insurance premiums? Does he detect any difference in the Central Bank's attitude on the regulation of insurance companies and the protection of the consumer? It is clear that consumers are being ripped off and, as of yet, they have not felt the safeguards in place and not acted upon by the Central Bank.