Written answers

Wednesday, 17 May 2006

Department of Enterprise, Trade and Employment

Insurance Industry

9:00 pm

Photo of Gerard MurphyGerard Murphy (Cork North West, Fine Gael)
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Question 101: To ask the Minister for Enterprise, Trade and Employment the number of the 47 recommendations in the Competition Authority's final report and recommendations in regard to competition in the non-life insurance market which have been implemented; and if he will make a statement on the matter. [17890/06]

Photo of Micheál MartinMicheál Martin (Cork South Central, Fianna Fail)
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The Competition Authority's Report on Competition Issues in the Non Life Insurance Market, which focussed on motor, employers' liability and public liability insurances, published in March 2005, contained 47 recommendations directed at a number of bodies including the Financial Regulator, the Department of Transport and the Motor Insurance Bureau of Ireland.

Two of the recommendations have already been implemented by the Financial Regulator who is also conducting a consultation process in relation to the implementation of another recommendation. A further seven recommendations may be implemented by means of the Financial Regulator's forthcoming Consumer Protection Code.

The Competition Authority regularly reviews the position in relation to the implementation of its recommendations. As part of that process the Authority is currently engaging with all those to whom recommendations were directed with a view to progressing their implementation.

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