Louise O'Reilly (Dublin Fingal, Sinn Fein) | Oireachtas source

The issue of rising insurance costs is a massive problem impacting many individuals and small businesses throughout the State. Businesses are having to curtail their activities. Many have had to close their doors. Jobs are being lost and communities are suffering because of the painstakingly slow pace of insurance reform.

We heard here last month from Linda Murray from Navan who broke down before the finance committee, begging for the livelihoods of her staff to be saved. An Teachta Pearse Doherty has previously raised the case of a soft play centre in Donegal which saw its premiums rise by 160% last year from €2,500 in 2017 to €6,500 in 2018. That is despite the fact that it had not made even one claim.

Two days ago in my own constituency the Fingal Adventure Centre announced that it will not be able to operate on the north beach in Rush this summer because of - these are its words, not mine - "the astronomical insurance" quote that it had received. This is a centre that was a favourite of many young people locally, as well as tourists. Its absence and the revenue that it generates for Rush and the surrounding area will be a major loss.

This is a really serious issue. Some of this is down to fraud. I accept that. Fraud and bogus claims are definitely a problem. I raised this issue here yesterday and repeat the call that has been made on numerous occasions for the establishment of a Garda insurance fraud unit to help stamp out fraudulent claims. However, more of this is down to blind profiteering on the part of the insurance industry and that must be stamped out also.

To ensure this happens we need a real commitment from the industry that price reductions will accompany reforms and we need to see proposed reforms as soon as possible. Despite the seriousness of all this we have yet to see the Government's proposed amendments to the Judicial Council Bill. When will the amendments be published and when will the Bill be back from the Seanad to the Dáil? This needs to happen very quickly and it certainly needs to be enacted before the summer recess. I ask the Minister to give that commitment.

In conjunction with that, will the Government secure a commitment from the industry that insurance costs will come down?

See this speech in context