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

I thank the Deputy for raising this important issue, which was also raised by Deputy Fiona O'Loughlin during Question Time earlier. It is undoubtedly the case that the Government has been particularly active in this area. My colleague, the Minister of State, Deputy D'Arcy, has implemented a wide range of measures to seek to control this issue. Most recently, the Government brought in the Judicial Council Act which will lead to greater consistency in awards. We reformed the legislation governing the Personal Injuries Assessment Board, PIAB, to make it easier to settle without expensive legal procedures. There is a greater focus by the courts and the Garda on fraud in the area. We passed legislation to improve data collection by the Central Bank. This week, the Central Bank took steps against brokers in respect of some of the ways in which they behave in the market.

I am glad to inform the Deputy that the Minister for Business, Enterprise and Innovation has asked the CCPC to study activities in the insurance industry, including those of brokers. There is no doubt that some practices in the industry are not satisfactory. Improvement will be brought about through the greater transparency, which is being demanded, the higher level of scrutiny of industry practices, which the commission will undertake, increased data collection and more oversight by Oireachtas Members of what is happening within the sector. The Government is not content with what has been done. As discussed at a recent Cabinet committee meeting, a review is being carried out to see whether we could introduce further measures to play our role more effectively.

There is no doubt that insurance costs are a significant challenge. We need more transparency and better competition in the sector. We are also aware that some insurers have withdrawn from the market and we need to ensure the presence of diverse players in the market is maintained. I have had the opportunity to use very good websites that allow those renewing insurance to look at other offers available on the market. Insurance customers should always shop around.

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