Christopher O'Sullivan (Cork South West, Fianna Fail)
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182. To ask the Minister for Finance if his attention has been drawn to the issues outdoor activity and experiences operators are having in securing insurance (details supplied); and if he will make a statement on the matter. [36507/21]

Paschal Donohoe (Dublin Central, Fine Gael)
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I am very much aware of the issues of insurance affordability and availability facing many sectors, such as the one highlighted by the Deputy, which provide such a valuable contribution to the well-being of our society and economy in general. However, neither I, nor the Central Bank of Ireland have any influence over the pricing or provision of insurance products, nor can we compel any insurer operating in the Irish market to provide cover to any individual business or groups, as this is a commercial matter. This position is reinforced by the EU legislative framework for insurance (the Solvency IIDirective).

Nevertheless, 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. In this regard, the Action Plan for Insurance Reformsets out 66 actions across a number of policy areas, including the Department of Finance. Work is already underway to deliver these much-needed reforms. Recent achievements include the adoption of new Personal Injury Guidelines by the Judicial Council, and the creation of an Office to Promote Competition in the Insurance Marketwithin the Department of Finance.

The new Personal Injury Guidelines significantly reduce award levels for many categories of common injuries. It is my expectation that insurers will now commence reflecting savings from reduced award levels to customers, in line with past commitments. Minister of State Fleming met with the CEOs of the main insurers operating in Ireland to set out the Government’s expectation in this regard. These engagements were positive, with providers indicating that they will begin lowering premiums in response to the Guidelines.

The Minister of State will meet with CEOs again later this year to review their ongoing response to this and other key reforms. My officials are also working closely with the IDA with a view to help bring new entrants into the Irish insurance market, including in areas of high footfall and in turn to help improve its overall competitiveness.

I would like to assure the Deputy that work remains ongoing across Government to deliver further elements of the Action Plan, including measures to reform the PIAB, reduce fraud, and make changes to the duty of care in order to strengthen waivers and notices. It is my expectation that the implementation of these key actions should have a positive impact on the affordability and availability of insurance for individuals, businesses, community and voluntary groups across Ireland.

Finally, with respect to the correspondence highlighted in the question, it may interest the party involved to know that Insurance Ireland, the representative body for insurance providers in this country, operates a free Insurance Information Service for those who have queries, complaints or difficulties in relation to obtaining insurance cover. This can be accessed at feedback@insuranceireland.eu. In addition, an individual has the right to make a complaint to the Financial Services and Pensions Ombudsman (FSPO) in relation to any dealings with such providers where they feel they have been unfairly treated. The FSPO is a statutory official who acts as an independent arbiter of disputes which consumers may have with their insurance company or other financial service provider, and can be contacted either by email at info@fspo.ie or by telephone at 01-567-7000.