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

I repeat that the Government welcomes the Private Members’ Bill. It is in line with the Government priorities in our focus on the insurance area to date. Much work has already been done recently by the Minister for Finance, Deputy Noonan, relating to the review of the framework for motor compensation and the publication of that review. A transposition of Solvency II is taking place. Work has been ongoing in respect of flood insurance. We have seen the publication of the report of the work on the cost of motor insurance. The implementation of that report has begun. Each of these segments of work along with the Bill Deputy Doherty has introduced will help us to deliver what we want to see, that is, a stable properly functioning insurance market that delivers fairer premiums and contracts for consumers without any unnecessary delay.

We will engage constructively. We believe it will take some time to consider each of the elements of the Bill. It is likely that we will have substantive amendments on Committee Stage. We support the Bill in the move to Committee Stage.

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