Matt Shanahan (Waterford, Independent) | Oireachtas source

We are at an inflection point for this Government. Given that the Tánaiste is about to rotate away from the Department of Enterprise, Trade and Employment, I ask him for his reflections on the programme for Government commitments to deliver on insurance reform. What changes have been made? What does the Tánaiste feel has and has not worked? What should the next Minister perhaps try? Despite all the noble words, premiums continue to float upwards and insurance continues to strangle the social, cultural and commercial life of our country.

Some commercial premiums are reported to be rising 50% this year for firms with no history of claims. For others, the business liability insurance premium is up by 30%, and good luck trying to get a quote for adventure tourism. No new competition has entered the market to shake things up. We have another 15 years of the 2% levy brought about by the Quinn Insurance collapse. This costs €20 to €30 per household per year. We have something to look forward to, I suppose. We have no present public record or Circuit Court awards so we cannot see where payments are reasonable or unreasonable. The extent to which our independent Judiciary has reflected on agreed claims guidelines is a cause for concern. Too many cases still end up in the courts. The legal fees and costs are too high. The court outcomes are too unpredictable for many insurance underwriters to try their luck.

The programme for Government sets out the problem clearly. Insurance costs are too high for business, motorists, households and sporting, community and voluntary groups. The programme for Government priority was to improve competition, moderate excessive payouts and compensation claims and, most important, deliver legal reform. It all sounds a bit Mary Harney-esque circa 2003, to be honest.

The Dáil is waiting for the Government to move the occupiers' liability reform Bill forward. We are also waiting to see the new insurance competition office actually working and doing the job it is required to do. We have to wait to see if the Personal Injuries Resolution Board, PIRB, is more successful than the Personal Injuries Assessment Board, PIAB. On that point, I was the only Deputy to table an amendment seeking a subsequent review to the PIRB legislation, which I think should still happen. We already know that some reforms already look like they are not up to the task. Perhaps we need to bite the bullet and consider a citizens’ assembly and referendum to make insurance work for our economy and society, rather than having our society working for insurance. What changes have been made that the Tánaiste feels have worked or not worked? How should the next Minister try to achieve lasting insurance reform?

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