Seán Kyne (Galway West, Fine Gael) | Oireachtas source

In January 2018, the cost of insurance working group recommended that the CSO commence a study on measuring price information on the cost of insurance to business. The background to that recommendation was the absence of quality information on business insurance, including official statistical data to inform policy formulation by the Government. The CSO has provided a report on this work to the cost of insurance working group and that report will be published shortly. One of the findings relates to the lack of international precedent for a price index for business insurance and the difficulty of measuring price changes in this area. The report assesses several potential data collection methods and outlines a specific approach the CSO will pursue further. The CSO will continue its research into business insurance in 2019 before deciding whether to begin collecting and compiling a price index on this topic. If the working group has other recommendations, they can be assessed by the CSO within its resources to see if there is a possibility of providing data.