Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

All of the settlement channels used in the sector would be included. The key objective of collecting the data is to improve transparency and to enhance the ability to analyse the relationship between claim costs and the cost of premiums. The data specification outlines the data that are required from firms relating to both premiums and claims, allied to information on the income and expenditure of the individual firms. While this has not been fully finalised, the general thrust of the specification is along the following lines. In respect of the data to be collected on premiums, premium policy data for the past ten years will be collected from each insurer across all private motor insurance policy types. The data to be collected on claims will include the aggregate claims information for the past ten years in respect of all private motor claims, both open and closed.