Dara Calleary (Mayo, Fianna Fail) | Oireachtas source

For several years Fianna Fáil and Deputy Michael McGrath, in particular, have been highlighting the burden of ever soaring insurance costs. Deputy Michael McGrath has raised the issue in the House, as well as with the Competition and Consumer Protection Commission, CCPC, and the European Commission. All Deputies are aware of the burden of soaring insurance costs on businesses and people generally. Many have seen insurance costs rise by between 40% and 60% over the past several years. There is considerable evidence in recent months of business closures as a consequence of excessive insurance rises. For young drivers in particular, there are many examples of people being unable to afford the premiums charged, thereby discommoding their daily lives. Despite the pressure, there has been very little Government action to deal with this issue. While the Government says it is committed and published bucketloads of reports, it has failed to stop insurance price hikes for businesses and for consumers around the country.

It is not just Fianna Fáil saying this. The National Competitiveness Council figures show that Irish insurance price inflation is significantly above that of the eurozone average, thereby adding to the competitiveness burden faced by businesses and the burden in people's daily lives. The key factor in this burden is the lack of competition in the Irish market. This morning, we learned from David Murphy of RTÉ that the European Commission has acted and launched a preliminary investigation as to whether or not foreign companies are being barred from entering the Irish market. David Murphy's report quotes the experience of Zenith Insurance which pulled out of the Irish market in 2016. In a statement it cited "the lack of engagement with us by Irish industry bodies, which we believe creates a market disadvantage for us and our partners." Less competition means higher prices for Irish insurance consumers. Higher insurance premiums cost jobs and hurt people across the country.

Will the Tánaiste confirm that this preliminary investigation is under way and how far it has progressed? Does the Tánaiste agree that insurance costs are too high in Ireland? What is the Government actually doing to encourage more companies to enter the Irish market?

The insurance industry body in Ireland, Insurance Ireland, promotes access to a service called Integrated Information Data Service, IIDS, a shared members' database that, by arrangement with the Department of Transport, Tourism and Sport, allows its users to confirm the accuracy of penalty point information. Will the Tánaiste confirm all insurance companies and all prospective insurance companies have access to that information, regardless of whether they are members of Insurance Ireland not?

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