Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

There was a recognition in government that increases in insurance costs were unsustainable. It was decided to review the insurance industry, an approach which was led by the Minister, Deputy Eoghan Murphy, when he held a different brief. For the most part, the report and recommendations have been implemented and resulted in motor insurance premiums stabilising. The changes will have a positive impact over time. Phase 2 of the approach taken was to examine business insurance costs. The process is under way, but the group has not yet reported. When it does, we will take the same approach that we took to the cost of motor insurance, namely, making sure we implement the recommendations made.

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