Dáil debates

Tuesday, 22 February 2022

Ceisteanna Eile - Other Questions

Insurance Industry

8:50 pm

Photo of Seán FlemingSeán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

I propose to take Questions Nos. 17 and 28 together.

As the Deputy is aware, insurance reform is a priority for the Government, with the establishment of the office to promote competition in the insurance market representing an important action within the overall reform agenda. One of the roles of the office, which I chair, is to engage with insurance industry stakeholders. The office held more than 60 meetings with a wide range of groups in 2021 and earlier this year.

The Deputy referred to a particular sector. Fáilte Ireland produced extensive reports and helped fund and establish tourism products that deal with adventure sports.

That organisation is up and running. It is encouraging people in the tourism adventure sport area to come together collectively as a group, work through a broker, and then approach insurance companies rather than them being picked off one by one by the major insurance companies. They are now approaching these insurance companies through a broker with ten, 20 or 30 similar type businesses around the country and are able to get insurance on that basis. Many of them have been very successful.

I accept that there are some companies out there, small operators who may not be part of that particular group at this time, but the arrangement mentioned is proving very successful already. There are similar areas in high risk. I can think of the equestrian centres, pony clubs, and point-to-point races which had major problems with insurance over the past six months. They have come together collectively as a group rather than individual point-to-point clubs seeking to get their own personal insurance for their own riders and the Department of Agriculture, Food and the Marine was helpful in that respect. Most of these activities are back up and running. Some of the point-to-point races and pony clubs activities commenced on 1 February which did not look possible in November. There has been great progress in some of the areas specifically referred to by the Deputy.

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