Seán Fleming (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

As I said, the staff of new office to promote competition in the insurance market only met yesterday for the first time. That was one of the key elements of the action plan we published, based on Cabinet approval earlier this month. We will tackle that issue when we get the exact information from the Central Bank. I hope the Deputy would see the importance of that, given that the Central Bank is now examining the issue on a detailed, company-by-company and policy-by-policy basis. The big element of this work on the dual pricing issue is now being undertaken, and the Central Bank has issued its first commentary and second interim report. The third and final report in the coming year will, I hope, be the definitive word on the issue. On receipt of that report, we will respond immediately. It would not be appropriate for us to respond with a legislative proposal now, knowing there is detailed information coming through from the Central Bank in the months ahead. I want to get that information so that when we do pass legislation as a result of that it will be based on evidence produced by the Central Bank. We all believe that is to happen. I do not want to introduce legislation on what I believe without any evidence backing up what I believe. The Central Bank will provide that evidence and we will act immediately when we get it