Martin Browne (Tipperary, Sinn Fein)
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126. To ask the Minister for Finance if his attention has been drawn to the fact that some foresters and tree surgeons have seen their insurance premia increase by over 100% since 2020; his plans to address this issue; and if he will make a statement on the matter. [28795/21]

Paschal Donohoe (Dublin Central, Fine Gael)
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At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products or have the power to direct insurance companies to provide cover to specific individuals or businesses, including those referenced in the question. This position is reinforced by the EU framework for insurance (the Solvency II Directive). Consequently, I am not in a position to direct companies as to what terms and conditions apply in relation to cover.

Notwithstanding the above, I can assure the Deputy that the Government is committed to improving the cost and availability of insurance for all consumers, businesses and community groups. The Action Plan for Insurance Reformsets out 66 actions in this regard across several policy areas, including my Department, with 95% due to be completed by the end of 2021. The Sub-Group of the Cabinet Committee on Economic Recovery and Investment, which is implementing this Action Plan, was established by Government to oversee insurance reform implementation. I strongly believe the cross-departmental approach in the Action Planprovides the best opportunity to address the cost and availability of insurance and will build and expand upon previous commendable work done by the Cost of Insurance Working Group.

At its most recent meeting in March, the Cabinet Sub-Group on Insurance Reform, which oversees the implementation of the Action Plan, reflected upon the considerable progress made in the first three months of this year. Achievements include:

- The creation of an Office to Promote Competition in the Insurance Market within the Department of Finance;

- The adoption of new Personal Injuries Guidelines, which came into force on 24 April;

- A recent public consultation on proposals to reform the Personal Injuries Assessment Board.

Upcoming priorities include: strengthening the laws on perjury, expanding the National Claims Information Database so that it publishes its first report on employer and public liability insurance, and examining the Central Bank’s final report on differential pricing so that the Government can respond accordingly.

I can assure the Deputy that we will continue to engage extensively on this matter and monitor developments in the sector as the Government drives forward the insurance reform agenda. Minister of State Fleming and I look forward to continue working with colleagues and stakeholders to implement further aspects of the Action Plan, with a view to improve both the cost and availability of insurance for all consumers, businesses and community groups.