John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

There has been a reluctance on the part of the banks to engage in a way that would convince me or others that they have skin in the game and are willing to deal with these loans. In fact, the opposite has been the experience. Will the Department look at another mechanism such as a community banking system, the credit unions or any other outlet that would provide some sort of competition to the banks in this area? The numerous complaints I have received indicate that the system is not working and that it is being held up by the banks. I ask the Department to examine the matter in that context.

I wish to return to the issue of insurance. It was raised earlier. The problems in this area have gone on for far too long. The Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach did a significant amount of work on the insurance industry. We now know that some insurance companies are using the fine print to avoid paying out on claims relating to Covid-19, that businesses are encountering more and more difficulty, that insurance costs have gone up significantly and that there seems to be no rein on the industry. What action has the Department, along with the Department of Finance, taken to ensure that some sort of sense returns to that marketplace?

Businesses cannot afford the cost of the premiums they are being presented with.