Dáil debates
Tuesday, 21 May 2024
Ceisteanna Eile - Other Questions
Insurance Industry
10:05 pm
Ruairí Ó Murchú (Louth, Sinn Fein) | Oireachtas source
We know what the Minister of State cannot do but it is a question of what he can do and what interaction he intends to have with these insurance companies as premiums are still going up. I get the idea that we knew that an issue existed in respect of duty of care. An argument could have been made that it could have been dealt with at an earlier stage. The problem was that a huge number of companies that operated in the public liability sphere, in childcare and other sectors, left the market. What conversation will happen with those insurance companies, particularly if premiums do not go down? They benefit when settlement costs go down.
On interactions intended to get new companies into this sphere, have there been any gains? I am asking specifically about public liability insurance.
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