Robert Troy (Longford-Westmeath, Fianna Fail) | Oireachtas source

I share the Deputy's frustration. This is an area in which I invested a lot of time during the lifetime of the previous Government. Many reforms have been introduced. It is regrettable that the level of savings we envisaged for consumers has not transpired. If we look at the CSO consumer price index of December 2024, we can see that motor insurance is 35.5% lower than it was at its peak in July 2016. It is still too high in many cases. Many reforms have been delivered. There is a commitment in the programme for Government regarding an action plan on insurance reform. Work has already commenced in this regard in the context of how we can ensure that the reforms that have been delivered will result in further reductions in premiums and to identify the new reforms that can be initiated to ensure that we have the price transparency for which the Deputy is advocating. We have the same objective, that is, to bring down the cost of insurance.

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