Michael Noonan (Limerick City, Fine Gael)
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The Cost of Insurance Working Group is now in its second phase and is examining issues around the cost of insurance for businesses, specifically Employer Liability (EL) Insurance and Public Liability (PL) Insurance.  It is envisaged that the final results of this second phase will take the form of an addendum to the existing Report.  As with the first phase, the aim is for all relevant bodies and stakeholders to work together in order to deliver fairer premiums for businesses without unnecessary delay.  It is hoped that there can be clarity around the potential new measures in July, with a final report following in September.

The Working Group is chaired by the Minister of State at the Department of Finance, Mr Eoghan Murphy T.D. and is comprised of representatives from the Department of Finance, the Department of Jobs, Enterprise and Innovation, the Department of Justice and Equality, the Central Bank of Ireland, the State Claims Agency, and the Personal Injuries Assessment Board. 

The Working Group is building upon the previous work done in the motor phase in order to determine how it can be applied in the employer liability and public liability insurance claims areas particularly in relation to:

- Personal Injury data and information

- Effects of legal costs and litigation processes on insurance costs

- Current claims compensation arrangements and cost of claims

- Impact of unlawful activity on insurance sector

The Working Group is also considering the impact of the cost of insurance on the competitiveness of particular business sectors, the impact of health and safety issues on the cost of insurance and other market issues. 

The Working Group has met seven times this year and has held extensive consultations with a range of stakeholders including the Hotels Federation of Ireland, IBEC, ISME, the Vintners’ Federation of Ireland (VFI), the Licensed Vintners’ Association (LVA), the Retail Grocery Dairy & Allied Trades Association (RGDATA), Chambers Ireland, the Law Society of Ireland and the Health and Safety Authority.  Further consultations are also planned and I would invite further submissions from interested parties to insurance@finance.gov.ie.