Joan Burton (Dublin West, Labour)
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292. To ask the Minister for Finance if he and the Minister for Transport, Tourism and Sport have received initial recommendations following a review of rising motor insurance compensation; the status of the review of policy in the insurance sector, which his Department is currently undertaking in consultation with the Central Bank; the reforms he is considering to tackle the problem of motor insurance premiums that are rising at an annual rate of as much as 35%; if he will urgently update the book of quantum; and if he will make a statement on the matter. [1667/17]

Michael Noonan (Limerick City, Fine Gael)
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The Working Group on the Cost of Motor Insurance, chaired by Minister of State Eoghan Murphy, completed its Report in December 2016. The Report was approved by the Government on 10 January 2017 and subsequently published. The Report contains 33 recommendations and 71 actions are detailed in an action plan with agreed timelines for implementation, covering six main themes:

- Protecting the consumer

- Improving data availability

- Improving the personal injuries claims environment

- Reducing the costs in the claims process

- Reducing insurance fraud and uninsured driving, and

- Promoting road safety and reducing collisions

The recommendations include actions to:

- address the lack of transparency in the claims environment, through the establishment of a national claims information database which will be located in the Central Bank;

- provide enhanced guidance in how to determine compensation for personal injuries claims, through the establishment of a Personal Injuries Commission;

- address the increasing level of uninsured driving, through the establishment of a fully functioning database which will allow the Gardaí to check insurance compliance through the use of technology such as Automatic Number Plate Recognition; and

- address the issue of suspected fraud, through the establishment of a database that will be funded by industry but held by an independent body and that will take into account data protection concerns.

A number of the actions are already underway and I am confident that the report's 71 actions will be implemented by the end of 2018, with 45 due for completion this year.

While there is no silver bullet to reduce the cost of insurance, cooperation and commitment between all parties can deliver fairer premiums for consumers without unnecessary delay. This will lead to greater stability in the pricing of motor insurance and will help prevent the volatility that we have seen in the market in the past. It should also better facilitate potential new entrants to the market.

The Working Group will continue to meet in 2017 as the project enters its implementation phase.

The Deputy should note that the Book of Quantum was most recently revised and published in 2016. In addition, and as part of the implementation of the Report, the Department of Jobs, Enterprise and Innovation are tasked with exploring with the Judiciary how future reviews of the Book of Quantum might involve appropriate judicial involvement in its compilation or adoption, introducing more granularity into the Book of Quantum and updating it every 3 years at a minimum.