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

I thank the Deputy. I understand the urgency of the issue because of the engagements we have had with businesses. For example, the hospitality sector is taking a very big hit when it comes to increases in insurance premiums. It has tried to control this risk by shutting down particular parts of businesses, such as nightclubs or the hosting of weddings. However, such services are part of the viability of businesses in the first place, therefore they cannot portion out that part of their business.

The work we have done to date has identified particular problems, to which the Deputy alluded, regarding certain businesses taking on higher excesses which is difficult for them in terms of managing their bottom line. Self-insurance is on the increase. Businesses involved in self-insuring could be putting their entire business at risk if they encounter a problem in the future against which they had not provisioned. It is a worrying trend.

We are also considering the role brokers might be able to play and expanding the terms of reference to include that. Fraud is also important. We are receiving very good information from businesses on how fraud is affecting their businesses.

We need to examine issues in order to bring greater consistency to this area, such as the personal injuries commission that has been set up already and is working, strengthening the PIAB and in the second quarter of this year, the changes to the legislation on that. Pre-action protocols can help to bring consistency to the awards process.

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