Cormac Devlin (Dún Laoghaire, Fianna Fail) | Oireachtas source

Given the very significant reduction in the cost of awards, as I outlined, and the introduction of other measures, consumers and businesses will expect proportionate reductions in premiums to bring them into line with EU averages. I think we are seeing that. Consumers are certainly feeling that when they renew or examine other policies. If that trend continues, we will be in a very good position and more aligned with our EU counterparts than before. The work being undertaken is being felt by consumers at a critical time given the rise in costs in other areas.

See this speech in context