Marie Sherlock (Labour) | Oireachtas source

I am dealing with a company involved in adventure services that cannot source insurance here. I am not talking about the ownership of insurance companies that write insurance policies or operate here. I am simply asking about those companies which are regulated by the Central Bank and write insurance policies here. I am less interested in their ownership than that they are regulated within this jurisdiction. Some enterprises are still unable to purchase insurance in this jurisdiction and have to go abroad to do so.

From what the Minister of State said, he would agree there is a market failure there but he does not seem to agree a new insurance company should be set up here. I take it that is what he is saying. He gave us a history lesson of the failures in the insurance sector. Proposals have been put forward to pool insurance among a number of organisations or enterprises within a sector with a very similar risk profile. Is that something he would support?