Richard Bruton (Dublin Bay North, Fine Gael) | Oireachtas source

The House is very much united in desiring that the issue of excessive insurance premia be addressed. There has been a lot of collective effort in this House to tighten legislation through new data provision legislation in operation since the beginning of the year. An Garda Síochána has strengthened its approach to insurance fraud using its economic unit. The Minister for Justice and Equality, Deputy Flanagan, is guiding legislation through the House, which will enable the Judiciary to have a more objective look at the types of awards that are being made. The Competition and Consumer Protection Commission is examining price signalling, a cause of concern that has been brought to its attention. There is no doubt that there is a desire in this House to see insurance premia come down to reflect the changes we are making. However, the legal position is that we cannot set premia. The Government cannot set premia; nor can the House. Insurance companies take the risks so while I fully sympathise with the suggestion that we need to see changes reflected in premia, the Government cannot take control over premium setting.

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