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

Everything we are doing is to reduce premia. A total of 62 out of 78 recommendations have been concluded although some will not be concluded because, upon analysis, they will be too expensive or will not produce the effect for which we had hoped and anticipated. The 22% reduction is welcome and we want to reduce it further and move into other sectors. We are getting to the big stuff now and the role played by this committee, and both Houses, in the coming three to six months will determine the level of competition in the market and how we can get the market onto a strong stable footing, without large profit spikes followed by losses.

The consumer protection side of insurance is very important to me. We have done two reports in the past six months on consumer protection and how the industry operates with its clients, external to fraud, exaggerated claims or high awards. Make no mistake about this - I am on the side of the consumer, along with the Chairman. I hope we will get the national claims information done before the end of the year and get the Judicial Council Bill through both houses in the same period. I hope we can also get the Personal Injuries Assessment Board (Amendment) Bill done. These last few bits are the really important work.