Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Táim buíoch don Leas-Cheann Comhairle as ucht an t-am a thabhairt dom an t-ábhar tábhachtach seo a phlé leis an Aire Stáit. Cuirim fáilte roimh an Aire Stáit. Táim ag cur an cheist árachas margaidh os comhair an Tí. Early this morning, it was confirmed that the Competition and Consumer Protection Commission carried out a series of raids on insurance companies and brokers and their representative body, Insurance Ireland. The raids are part of an ongoing investigation regarding suspicions of the existence of price signalling or price fixing within the insurance sector in this State. This suspicion is most evident in motor insurance prices, which most of us have had to put up with over the past number of years. However, it is far from being limited to car insurance.

I am sure the Minister of State is very well aware that Donegal has a very long and proud farming and agricultural heritage. The diversity of land use within the sector reflects the physical diversity of our landscape. From largely dairy farming in the north to crop growing to the east and throughout the Finn valley to cattle rearing in the south to grazing lands to the west, few counties can boast such a mix and range of farm types. As a rural county, this tradition is not only widely known but widely celebrated because even to this day, the industry remains at the heart of the local economy in many of our smallest villages and towns. The local farmer's mart is at the centre of this industry. Many of our biggest towns such as Letterkenny, the twin towns, Raphoe, Milford, Donegal town, Ballyshannon and others owe much of their success down through the years to the influence of the local livestock co-op or mart. In fact, many of them remain open for business today. They are local trading hubs - institutions in their own right - where farmers and traders come to do business, to socialise and, in most instances, to continue a long and lasting family farming tradition.

Despite this, all is not well at the local livestock mart. It is a business which finds itself coming under increasing financial pressures as a direct result of what is fast becoming the cross-sectoral problem of insurance costs. In my view, the same core issues that have caused the rip off for drivers are driving these increases. In recent weeks, I have been contacted by representatives from the sector who have stated in no uncertain terms that the crippling costs associated with rising mart insurance premiums over recent years are forcing mart operators to consider their own futures seriously as well as affecting the future survival of the wider institution itself. Marts are reporting to me that they are coming under heightened demands from their insurers - demands with which they complied in the past and that are still there. Those demands are to introduce costly structural adaptations and changes to existing practice which it is claimed will help keep the cost of cover down. However, even though some marts have already carried out those works, they are seeing dramatic increases in their premiums. Even though they are open for fewer hours than previously, they are seeing the premiums increase year on year. What will the Minister of State do at this stage of the insurance review to ensure that the plight of marts are brought into the terms of reference? I have written to the Minister requesting that. Can the Minister of State comment on the Competition and Consumer Protection Commission investigation? Will he write to the Competition and Consumer Protection Commission and ask it to look not only at motor insurance but at wider issues, including mart insurance?

See this speech in context