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

I wish to ask about financial services. Deputy McGrath raised the issue of banking and mortgages and so on. Recently, the Minister of State at the Department of Finance, Deputy D'Arcy, was before the committee to discuss the insurance business. I am simply bringing to the Minister's attention the fact that we have had submissions from taxi drivers, musicians and representatives from the small and medium-sized enterprise sector, the communities sector, marts and co-operatives and so on. All those groups have reported vast increases in their insurance premiums, some up to 300%. One mart operator told us that he had a no-claims bonus for 15 years and still has it, but his insurance premium went up 200% or 300% without any explanation. The community groups that came before us told us they are now losing national and international events because they cannot get the level of insurance required. They maintain it is affecting the economy. I know this myself from the SME sector. We have heard from Dublin publicans as well as taxi drivers and others. These sectors are being badly harmed by the level of insurance costs. The statistics may allow people to interpret it in a different way but the reality is that they are suffering badly. I would not be doing my duty as Chairman if I did not bring these matters to the Minister's attention. The insurance sector seems to do as it pleases. Does the Minister want to comment on that?