Paul Murphy (Dublin South West, RISE)
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100. To ask the Minister for Finance if his attention has been drawn to the problems faced in relation to insurance costs (details supplied); the assistance his Department can provide with this; and if he will make a statement on the matter. [8959/23]

Michael McGrath (Cork South Central, Fianna Fail)
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Securing a more sustainable and competitive market through deepening and widening the supply of insurance in Ireland is a key policy objective for this Government. It is recognised that a small number outdoor/high-footfall activity sectors, including motorcycle sports, are currently facing difficulty in terms of affordability and availability of insurance. Government has therefore prioritised the implementation of the Action Plan for Insurance Reform, which aims to improve the cost and availability of insurance for all groups, including sporting organisations. The latest Implementation Report, published in November 2022, demonstrates that significant progress has been made, with approximately 90 percent of the actions either delivered or initiated.

One of the most significant achievements has been the implementation of the Personal Injuries Guidelines, which have reduced average award levels by nearly 40 per cent for cases settled through the Personal Injuries Assessment Board (PIAB). Government has consistently stressed its clear expectation that insurers should pass-on any savings arising from the reform agenda to customers. Minister of State Carroll MacNeill is meeting with the main insurers in the Irish market this month and will impress upon them the need to reflect lower claims costs through reduced premiums, but also to expand their risk appetite to provide cover to lesser-served, ‘pinch-point’, albeit high risk sectors, such as motorsports.

Work remains ongoing on a whole-of Government basis to ensure the timely implementation of the remaining elements of the Action Plan. Of particular relevance are the proposed amendments to the duty of care legislation. The policy intent is that these measures will have a significant impact on the issue of slips, trips and falls, and thus should assist the sporting and outdoor activity sector as a whole.

In conclusion, it is my intention to work with my Government colleagues to ensure that the implementation of the Action Planwill continue to have a positive impact on the affordability and availability of insurance for all groups, including sporting clubs and organisations.