Dáil debates

Tuesday, 7 March 2023

Ceisteanna Eile - Other Questions

Insurance Industry

10:35 pm

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

I agree with the Deputy. He is aware that some of that is already happening. One of the questions I am asking is the extent to which more of that can be done and in what circumstances.

I will update the House on the duty of care legislation. The Deputy is right about it being a matter for the Department of Justice, but it is my understanding that the legislation will be enacted before the summer. It is a significant part of the action plan on insurance reform because it sets out the culture of what can be expected of insurance in this jurisdiction. It also sets out what we are trying to do with PIAB. It must be acknowledged that awards in Ireland, particularly for soft tissue and minor injuries, were so large. A cultural change in this regard is important.

The Deputy is right, in that it is the Government's responsibility to create the correct environment. The Government cannot create jobs but it can create the environment to create jobs. However, we are still a small market and it is not the case that we are attractive to every insurance company operating in other jurisdictions. We must recognise that part of the dynamic, too.

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