Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

We could be in the same situation again. In a period of three or four years, there were increases of 70%. Insurance industry representatives simply told us whatever they wanted to tell us. There is no requirement on insurance companies to provide information. Insurance industry representatives will tell us that there will be a cost. They will state that anything we do to regulate the insurance industry will push up premiums. That will be the standard defence. This is an issue nevertheless.

I hear what the Minister of State is saying but I am of the view that the committee should reflect on the matter before Report Stage. We have already agreed that this should happen in the context of the method of calculating the cost and increasing premiums. Now we have an opportunity. We have legislation and we need to do it bearing in mind what the Minister of State said about what has been articulated by the industry.