Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I thank Deputy Ó Murchú for placing this question. I have a conflict of interest to disclose. As a director and promoter of a music festival, we hold our breath every year when we have our music festival because insurance is a major issue. If there are claims, that could put a not-for-profit festival out of being. It is apt that the Deputy has raised this issue in regard to what are smaller festivals and community events and the challenges they have in terms of insurance. I agree with the Minister that Ireland is becoming a far more attractive environment in regard to insurance, given the reforms that we have seen. Unfortunately, however, we are not seeing the level of new entrants in terms of competition in public liability that we need to see. Some of those the Minister of State mentioned are looking at motor insurance. However, we need to see an increased level of competition. Will the Minister give us an update in relation to the Office to Promote Competition in the Insurance Market that has been ongoing for some time now, particularly and solely focused in terms of public liability insurance? Is there a pipeline of new entrants? Is there concern in relation to some of the existing players here, some of the big sister large players, maybe leaving the market?

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