Aindrias Moynihan (Cork North West, Fianna Fail)
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84. To ask the Minister for Finance the timeframe to implement the report on the cost of employer and public liability insurance; and if he will make a statement on the matter. [13651/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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The second phase of the Cost of Insurance Working Group project culminated in the publication on January 25^thof the Report on the Cost of Employer and Public Liability Insurance, following its approval by Government.  This new Report makes 15 recommendations with 29 associated actions to be carried out, detailed in an Action Plan contained in the Report with agreed timelines for implementation.

All 29 actions are scheduled to be implemented before the end of 2019, with 26 due for completion this year.  The following numbers of actions are due in each respective quarter:

- Q1 2018:8 actions

- Q2 2018:7 actions

- Q3 2018:4 actions

- Q4 2018:7 actions

- Q1 2019:1 action

- Q2 2019:1 action

- Q4 2019:1 action (no action is due in Q3 2019)

The recommendations, covering three main themes, include actions to:

- Increase Transparency: enhance levels of transparency and improve data sharing and collection processes,

- Review the level of damages in personal injury cases:request that the Law Reform Commission undertake a detailed analysis of the possibility of developing constitutionally sound legislation to delimit or cap the amounts of damages which a court may award in respect of some or all categories of personal injuries, and

- Improve the personal injuries litigation framework:through a number of measures, including:

1. ensuring potential defendants are notified in sufficient time that an incident has occurred in relation to which a claim is going to be made against their policy;

2. tackling fraudulent and exaggerated claims; and ensuring suitable training and information supports are available to the Judiciary to assist in the fair and consistent assessment and awarding of damages in personal injury cases.

The Working Group will focus during 2018 on carrying out the recommendations of the Report on the Cost of Employer and Public Liability Insurance in parallel with the continuing implementation of the 2017 Report on the Cost of Motor Insurance.  I am hopeful that the cumulative effect of the completion of the two reports’ recommendations will be increased stability in the pricing of insurance for businesses and improved availability of liability insurance for all types of bodies.  

Brian Stanley (Laois, Sinn Fein)
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85. To ask the Minister for Finance the engagement from his Department with insurance companies on the refusal of motor insurers and the excessive loading of insurance to young persons and those in retirement age; and if he will make a statement on the matter. [13639/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to accept.  This position is reinforced by the EU framework for insurance which 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.  Consequently, I am not in a position to direct insurance companies as to the pricing level or terms or conditions that they should apply in respect of particular categories of drivers or vehicles. 

However, I am aware of the issue raised by the Deputy.  I have received representations to the effect that some policyholders, like younger or older drivers, are continuing to experience increases in their insurance premiums in spite of the fact that prices are generally in decline, while there also have also been a number of Parliamentary Questions tabled on the topic.

With regard to older drivers in particular, Minister of State D’Arcy has written to Insurance Ireland.  No formal response has been received to date, however in discussions between officials and Insurance Ireland, they indicated that they had not discerned a particular trend from enquiries received through its helpline in relation to this topic. 

Insurance Ireland has also pointed out that in making their individual decisions on whether to offer cover and what terms to apply, insurers will, aside from the driver’s age, use a combination of other rating factors, which include the age and type of the vehicle, the relevant claims record and driving experience, the number of drivers, how the car is used, etc.  Insurance Ireland has also advised that insurers do not all use the same combination of rating factors, and as a result prices and availability of cover varies across the market.  In addition to the above factors, insurance companies will price in accordance with their own overall past claims experience. Unfortunately, particularly in relation to younger drivers this has not always been positive.

Finally, I would recommend drivers who are quoted increased premiums to consult the Competition and Consumer Protection Commission website, which has an informative section regarding the purchase of car insurance generally.  One of the key tips listed to help cut costs is to “shop around” and “always get quotes from several insurance providers when you need to get or renew insurance”.