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

I tend to agree, but we also need insurers from different countries that are interested in moving into a market such as Ireland's. That is not necessarily a given, as it remains a small market with a number of insurers. It is not simply the case that, because we have a positive message, people are necessarily going to want to change their business model in order to operate in this market. We must reflect that.

In the course of conversations I have had, there are clear signs that the market is responding to the insurance reform agenda, with insurance solutions now more readily, albeit not completely, available in difficult areas such as equestrian activities, inflatable hire, non-standard buildings and childcare. There remains more to do, though.

The Office to Promote Competition in the Insurance Market has met an international insurance company that recently established a base in Dublin seeking to offer an expanded suite of professional indemnity insurance products. In conjunction with the IDA, it is also engaging with another global underwriter that may be seeking to enter the Irish market. The office will continue to build on those networks and partnerships to encourage competition in the market. It is a core part of my work, and I assure the Deputy that I raise it at every opportunity.

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