Oireachtas Joint and Select Committees

Thursday, 13 June 2019

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Cost of Insurance Working Group: Minister of State at the Department of Finance

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

No, I do not. One of the problems with insurance that I noted at an early stage was the lack of data at every level. We need to address that. With the help of Deputy Michael McGrath, the other finance spokespersons and the committee, we passed the Central Bank (National Claims Information Database) Bill 2018 very quickly at the end of last year. This allowed us to start the process of establishing the database for motor insurance. We hope and anticipate that we will have the proper datasets analysed correctly and appropriately so that we can shine a spotlight on the levels of increases and the extent to which they are damaging companies around the country.

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