Linda Nelson Murray (Fine Gael)

"Happy birthday to you, happy birthday to you." No one else sang; that is all I am saying.

I am here today to speak again about insurance and the action plan for insurance. As we have seen over the past number of weeks, insurance is still rising for motorists and businesses. In October the Central Bank of Ireland published the national claims information database, NCID, annual private motor report 2024 on motor insurance cover in October. Guess what? Premiums have risen by 9%.

One of the key actions in the new action plan is the development of a transparency code for the insurance industry. The code will require insurers to provide simple, understandable explanations on how premiums are formed and what broader factors influence pricing. Can Members imagine an Ireland where we understand how our insurance premiums are calculated?

This will be hugely beneficial to anyone taking out an insurance policy. The code will ensure that the insurance market operates with integrity, builds trust and that consumers are empowered to make informed decisions. Will the Leader find out where we are on this important reform?