Matt Shanahan (Waterford, Independent) | Oireachtas source

We need the occupiers' liability legislation enacted as soon as possible. As the Tánaiste well knows, the costs are not coming down in the commercial insurance sector as well as had been hoped. That remains a significant problem. We are not seeing the arrival of new competition in the sector. In that respect, there is talk of buying groups being formed, whereby industry sectors come together and seek to get a discount and start underwriting. Unless they have combined insurance premiums of more than €1 million, however, there is nowhere for them to run. That is a big problem for people involved in the bouncy castle business, sports and adventure centres and the performing arts.

What is the Government doing to support the smaller business? We need greater transparency regarding the fee income and insurance company profits being recorded at present. As I have advocated previously, we need strict review procedures to ensure the PIRB and, subsequently, occupiers' liability are working as desired. Most of all, we need to stop the feeding frenzy in personal injury compensation in this country. The new insurance office must sit on that in the coming year.

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