Pat Breen (Clare, Fine Gael) | Oireachtas source

We are all aware of the negative impact of high insurance costs on consumers and business. Consumers are entitled to a fair and reasonable price for insurance. Of course, motor insurance falls under the remit of the Minister for Transport, Tourism and Sport, while responsibility for the insurance industry more generally is a matter for the Minister for Finance. The Department of Business, Enterprise and Innovation has no direct responsibility for insurance. As I said earlier, however, much work has been done by my Department and the Department of Finance on the PIAB. The Personal Injuries Assessment Board (Amendment) Act was signed into law in February. Anecdotal evidence suggests that insurance premia have fallen in recent times, including motor, home and business insurance. Insurance is just one of the many costs faced by businesses, which also include rates. The Government is working on the issue. The Minister of State at the Department of Finance, Deputy D'Arcy, has been engaged on the matter for some time, as has my Department. The measures that we have put in place will assist business owners.

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