Jennifer Carroll MacNeill (Dún Laoghaire, Fine Gael) | Oireachtas source

I thank the Deputy the question. He is right to highlight the Office to Promote Competition in the Insurance Market established as a consequence of the action plan on insurance reform overseen by the Cabinet sub-group on insurance reform. The latest implementation report demonstrates that significant progress has been made, with 90% of the actions contained in the action plan now being delivered or initiated. I will revert to the Deputy on the duty of care point.

The Deputy will be aware that the Office to Promote Competition in the Insurance Market is a programme for Government commitment. Its aims are to help expand the risk appetite of existing insurers and explore opportunities for new market entrants in order to increase the availability of insurance.

As the Minister of State with special responsibility, in my meetings with the CEOs of the main insurers, I am pressing this point around risk appetite and what they might take on in future.

Since its establishment, the Office to Promote Competition in the Insurance Market has held more than 100 meetings with a range of stakeholders, including insurance companies and representative organisations. As part of this, the office is working closely with IDA Ireland to help leverage the ongoing insurance reforms, with the objective of targeting new entrants to the Irish market or persuading incumbents to expand their risk appetite or both. This will, in the first instance, target providers who offer insurance in areas that have been identified as pinch points, as the Deputy correctly highlighted, such as high footfall and activity sectors experiencing difficulty in obtaining public liability insurance. Due to the progress in delivering the Government's reform agenda, the IDA now has a positive message to communicate and there have been encouraging developments, with insurance companies either seeking to establish in Ireland or to expand product lines already available to Irish consumers. This is a space that we will continue to monitor closely.

Upcoming developments, such as the reform of the duty of care, which I might revert to in a supplementary response, will further enhance this by addressing the question of slips, trips and falls, which is particularly prevalent in high-risk public-facing sectors.

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I wish to assure the House of my intention to work with my Government colleagues to ensure further implementation of the action plan, which, in tandem with the work of the Office to Promote Competition in the Insurance Market, should have a positive impact on the affordability and availability of insurance for all consumers.

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