Michael Moynihan (Cork North West, Fianna Fail)
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137. To ask the Minister for Finance the progress made in his Department’s areas of responsibility under the Action Plan for Insurance Reform. [54344/21]

Ruairi Ó Murchú (Louth, Sinn Fein)
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140. To ask the Minister for Finance the status of the work plan and actions of the Action Plan for Insurance Reform; his future plans to tackle the crisis in terms of public liability insurance; if he is satisfied with these measures to date; and if he will make a statement on the matter. [54346/21]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 137 and 140 together.

The Action Plan for Insurance Reform contains 66 cross-departmental actions that aim to improve the cost and availability of cover, including public liability insurance. This reform agenda is progressing well, with the Implementation Report published last July showing that 34 of the 66 actions were complete. Key reforms to date include:

- the implementation of the Personal Injuries Guidelines;

- the establishment of the Insurance Fraud Co-ordination Office within An Garda Síochána in September; and

- the enactment of the Criminal Justice (Perjury and Related Offences) Act 2021.

In terms of my Department’s responsibilities, there have been achievements in several areas, including:

- The creation a new Office to Promote Competition in the Insurance Market;

- The expansion of the National Claims Information Database to gather data on employer and public liability insurance, and the publication of the first report on this subject; and

- The publication of the Final Report of the Central Bank’s Review of Differential Pricing in the Motor and Home Insurance Markets.

In addition, as the House will be aware, I recently secured Government approval to draft the Insurance (Miscellaneous Provisions) Bill, which aims to address further issues beyond the remit of the Action Plan. Work is continuing to progress this legislation, as well as the outstanding actions for my Department, such as establishing a databank for new market entrants.

It is my hope that the cumulative impact of the Action Plan will be an improved insurance market here, including for public liability insurance. In particular, the Personal Injuries Guidelines should lead to lower claims costs, which I expect to be reflected in reduced premiums, as well as a more attractive market for both existing insurers and potential new entrants.

In conclusion, work is ongoing to progress the remaining reforms as a matter of priority. These include further actions that should help to improve the affordability and availability of public liability insurance, such as changes to the Duty of Care, and reform of PIAB. I believe that any savings achieved from the deliver of measures contained in the Government's Action Plan must be passed on to consumers. In this regard, Minister of State Fleming will be meeting CEOs and senior officials from insurers again shortly to assess developments including the impact for consumers of the measures achieved to date.