Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

The committee has been helpful. The work of the working group has been in private whereas the finance committee, embarking on a series of hearings, gave an opportunity for the Oireachtas to interrogate some of the information in the public domain. Again, it may have been put out in a particular fashion or perhaps to speak to a particular point. The committee has allowed the public to see are the complications around this and how different voices in the media that may not reflect the underlying problems.

I would like to appear at the committee next week if possible, but I have not had a chance to raise that with the Chair. The Finance Bill is continuing on Committee Stage next week. The Deputy is right, however, that the earlier the better.

On the report published by the Government earlier this year on motor insurance compensation, I have engaged with industry on several occasions already on that matter. We are awaiting the outcome of a particular court case as well. A further piece of work has to be done and there is a recommendation which speaks to that.

In so far as the Civil Liability and Courts Act 2004 is concerned, there are several measures to review certain sections in the legislation but also other sections which have not commenced. Transparency of data is key. It is important for a healthy competitive sector and combatting potential insurance fraud, as well as being important for confidence for consumers. The working group has been trying to get certain data from the industry so as to drill down into and get a better understanding. Even that has proved difficult. We are continuing to work with industry to ensure there will be no delay in implementing certain registers, frameworks or databases. These will only serve the public interest and which already exist in other jurisdictions such as the UK. There should be no problem in doing them here as well.

In so far as the reversal of premiums is concerned, I have been communicating to industry from the working group is that we want to give as much certainty as possible to the sector as to the Government's plans. It is hoped that even before recommendations come online that this certainly will help them to at least put a stop to increases in premiums. Then, as the recommendations work their way through, we should see some of those costs come down.

See this speech in context