Brendan Griffin (Kerry, Fine Gael)
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262. To ask the Minister for Transport, Tourism and Sport his views on a matter (details supplied); and if he will make a statement on the matter. [14361/17]

Shane Ross (Dublin Rathdown, Independent)
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​My Department is an active member on the Cost of Insurance Working Group, chaired by Minister of State Eoghan Murphy.  This group examined the factors contributing to the increasing cost of insurance, and worked to identify measures which can be introduced to help reduce the cost of insurance for consumers and businesses. The report of the Cost of Insurance Working Group was published in January 2017, and all stakeholders are currently working to implement the recommendations to strict deadlines.  I would, however, point out to the Deputy that neither I, nor any other Government Department, have the power to direct insurance companies on the pricing of insurance products.  The EU framework for insurance expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval of the pricing or terms and conditions of insurance products. However, I am confident that the implementation of the recommendations of the Cost of Insurance Working Group will assist in driving down the cost of motor insurance in Ireland.