Dara Calleary (Mayo, Fianna Fail) | Oireachtas source

While we wait on the courts, premiums are going up. Public liability premiums increased by 16%, according to research from the Alliance for Insurance Reform. Many businesses cannot wait given the other cost pressures they are under. Again, I ask the Minister of State whether there will be price monitoring under the new system. Can we give a role to the Competition and Consumer Protection Commission with regard to price monitoring so that people can see that premiums are coming down? I know premiums are different for every business and reflect specific business conditions but guidance should be made publicly available and there should be some system of monitoring the insurance industry to ensure it is passing on the benefits of the work done in respect of insurance reform and legal reform. Otherwise, businesses will continue to have to pay substantial increases and that is before inflationary increases are considered. There is no sense in having done all of this unless we actually get prices down. What is the timeline on the PIAB legislation?

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