Síle de Valera (Clare, Fianna Fail)

As Members of the House are aware, responsibility for insurance matters rests with the Tánaiste and Minister for Enterprise, Trade and Employment. From the outset the Minister has made it clear that reform of the insurance industry is her first political priority. On 25 October she announced a programme of fundamental insurance reform that reflects the commitments given in the agreed programme for Government. It comprises a comprehensive set of inter-related measures designed to improve the functioning of the Irish insurance market. The key concern is the cost and availability of liability insurance for consumers and businesses. It must be borne in mind that while the Department of Enterprise, Trade and Employment is responsible for supervising insurance companies, it is precluded under EU law from intervening in relation to premium levels or the risks that insurers are prepared to underwrite.