Paul Coghlan (Fine Gael)

I have no one to congratulate. A matter of major concern is that the Competition Authority has today found that the cost of insurance has been kept artificially high in Ireland. Worse, it found that barriers are preventing new entrants to the market. In 2003 and 2004 we rushed through legislation in this House to introduce very necessary reforms, on which there was all-party agreement, by means of the PIAB Act and the Civil Liability and Courts Act. That the Competition Authority has found today, two years later, that consumers are still overpaying, must be a matter of major concern to all of us and to everyone who has to pay insurance countrywide. The Leader might ask the Minister for Enterprise, Trade and Employment how we could apply pressure to the insurance sector in order to reduce costs and charges to consumers. A number of Senators serve on the Joint Committee on Enterprise and Small Business which has already issued a report on the issue and another is forthcoming. The joint committee has discussed some worthwhile measures. However, the rapid escalation in insurance profits has not been matched by a corresponding reduction in premiums to consumers. Will the Leader arrange for the Minister for Enterprise, Trade and Employment to come before the Seanad regarding this matter?