Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

The survey by the Alliance for Insurance Reform was published this morning. I understand it shows that the average business insurance renewal price was over 15% despite the new personal injury guidelines. The work of the PIAB demonstrates that the cost of the awards has decreased significantly as a result of the guidelines introduced. The Government continues to have good engagements with the Alliance for Insurance Reform. The Minister of State, Deputy Fleming, has been especially proactive on this front and is bringing forward legislation imminently in respect of the issues that the Deputy has raised. The national claims information database provides the best statistical basis for assessing pricing for employer and public liability insurance. It collects substantial verified data on the cost of employer and public liability insurance across all sectors and policies. In its report, published earlier this year, which covered 2009 to 2019, it showed that 93% of business insurance policies were under €5,000.

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