Dáil debates

Wednesday, 19 June 2019

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions

Insurance Costs

10:45 am

Photo of Michael D'ArcyMichael D'Arcy (Wexford, Fine Gael) | Oireachtas source

I want to highlight that I do not think a referendum is the correct direction of travel; it is the last option rather than something we are eager to do.

As the Deputy is aware, the national claims information database is the correct structure to put the spotlight on the data for the insurance sector. With the change to the Solvency II rules, we did not have the data. Insurance Link is owned by the insurance sector and the sector provides the information to Insurance Ireland, which is then provided with a cross-referencing of companies within the structure. I want to see us moving from the national claims information database for motor insurance and getting the information out as quickly as possible. We need to move immediately to employers' liability and public liability, which is the correct structure. The information is held by the Central Bank-----

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