Martin Heydon (Kildare South, Fine Gael)
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178. To ask the Minister for Finance the status of the recommendations from the working group on insurance; the measures implemented to date; and if he will make a statement on the matter. [30879/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy is aware, the Cost of Insurance Working Group undertook an examination of the factors contributing to the cost of insurance in order to identify what short, medium and long-term measures could be introduced to help reduce the cost of insurance for consumers and businesses.  

The initial focus of the Working Group was the issue of rising motor insurance premiums and the Report on the Cost of Motor Insurance was published in January 2017, containing 33 recommendations with 71 associated actions.

In its second phase, the Working Group examined the cost of business insurance, in particular employer liability insurance and public liability insurance.  This work culminated in the publication in January 2018 of the Report on the Cost of Employer and Public Liability Insurance, with 15 recommendations and 29 associated actions to be carried out.

Both of the primary Reports contain an Action Plan, setting out the agreed timelines for implementation, and also a commitment that the Working Group will prepare quarterly updates on its progress.  The Working Group has published five such updates, most recently on 11 May last.  

This quarterly update shows that of the 50 separate relevant deadlines within the Action Plan of the Report on the Cost of Motor Insurance set up to the end of Q1 2018, one relates to an action no longer being proceeded with; of the remaining 49 deadlines, 40 have been met.  Substantial work has also been undertaken in respect of the nine action points categorised as “ongoing”. 

In relation to the eight actions from the Report on Employer and Public Liability Insurance due for completion in Q1 2018, all eight were completed on time. 

It is envisaged that the next quarterly Progress Update will be completed by the end of July and will be ready for publication on the Department of Finance website shortly after.  This update will provide details on the implementation of all of the recommendations from both primary Reports.  However, a particular focus will be placed upon the 14 actions across the two Reports – seven from each – with Q2 2018 deadlines.