Pearse Doherty (Donegal, Sinn Fein)
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158. To ask the Minister for Finance when the joint group he appointed to examine the issue of motor insurance prices will report; if its report will be public; and if he will make a statement on the matter. [6150/16]

Pearse Doherty (Donegal, Sinn Fein)
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159. To ask the Minister for Finance the groups or persons the joint group he appointed to examine the issue of motor insurance price increases has met or sought advice from; and if he will make a statement on the matter. [6151/16]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 158 and 159 together.

My Department has embarked on a review of policy in the insurance sector in consultation with the Central Bank of Ireland and other Departments and Agencies.  The objective of the Review is to recommend measures to improve the functioning of the insurance sector. The Review will include an examination of the factors contributing to the cost of insurance. 

Phase one of the Review is examining the current motor insurance compensation framework in Ireland. This work is being conducted by a Joint Working Group comprising officials of my Department and of the Department of Transport, Tourism and Sport.  The group has met with a number of stakeholders to discuss the insurance compensation framework in the context of the functioning and regulation of the insurance sector generally. The Review group is working closely with the Central Bank of Ireland and has met with other stakeholders including the European Commission, Insurance Ireland, the Irish Brokers Association, the State Claims Agency and the Accountant of the Courts of Justice.

The Joint Working Group will shortly report to myself and the Minister of Transport, Tourism and Sport with recommendations for our consideration. In turn these recommendations will be submitted to Government in the coming weeks. 

The outcome of this work will feed into the wider review of policy in the insurance sector which I have outlined above. This work will continue over the coming months and is expected to be completed by the end of this year.  The final report will be presented to Government in due course  and a decision on publish will be a matter for Government.