Michael Moynihan (Cork North-West, Fianna Fail) | Oireachtas source

I again thank the Deputy for raising the matter and providing me with an opportunity to go through the issues. I listened very closely to the points the Deputy made and I am aware of the views expressed by some stakeholders that the proposed increase will have the effect of increasing premiums. This is something we have to consider in the future in terms of how the Act operates. Members of the House will have an opportunity to discuss this in fuller detail when the resolutions are presented.

On a more general level, the Minister for Justice is acutely aware of the issues with insurance reform and it continues to be a key priority for Government. The new programme for Government commits to the publication of a new action plan for insurance reform, with a focus on encouraging further competition in the market and working with the stakeholders to enhance transparency and affordability across all types of insurance. The Cabinet subcommittee on insurance reform will continue to monitor the effects of the action plan for insurance.

Over the years, the issue of insurance premiums, payouts and the constant issue for some businesses of even finding insurance is a really concerning one for Government, for the Minister and, indeed, for me because we have worked on it over many years. I will relay everything the Deputy has said this morning to the Minister and to the Government.

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