Emer Higgins (Dublin Mid West, Fine Gael)
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231. To ask the Minister for Finance if his attention has been drawn to the prohibitive effect that rising insurance premiums are having on person's looking to open indoor play facilities; if this is a matter that the Cabinet Committee Sub-Group on Insurance Reform is considering; and if he will make a statement on the matter. [14652/23]

Michael McGrath (Cork South Central, Fianna Fail)
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At the outset, I wish to reassure the Deputy that I recognise the concerns felt by some small businesses around the cost and availability of insurance cover. This is particularly pertinent in some business sectors, including indoor play facilities for children. Accordingly, Government has prioritised insurance reform through the Action Plan for Insurance Reform. The third Action Plan Implementation Report, published in November, demonstrates that considerable progress has been achieved, with the vast bulk of the 66 actions contained therein now delivered or ongoing.

In terms of next steps in the insurance reform agenda, rebalancing the Duty of Care legislation (the Occupiers’ Liability Act 1995) is now a priority and is being led by the Minister of Justice. Overhauling this legislation should help to address the issue of ‘slips, trips and falls’, which is particularly prevalent in heavy-footfall areas. This in turn could potentially unlock further liability insurance capacity for businesses such as indoor play facilities.

Data from the National Claims Information Database managed by the Central Bank illustrates that the public liability insurance market has been loss making for a number of years, and consequently insurers are reluctant to enter into this area. At the same time, this more specialised market segment is closely linked to global insurance trends, and is therefore slower to reflect the changes being delivered through the Government reform agenda than more commoditised products such as motor insurance. Nevertheless, there are clear signs that the market is beginning to respond to the success of the Action Plan for Insurance Reform, with insurers moving into previously difficult-to-insure niche areas such as childcare, inflatables, non-standard housing and the equestrian sector. Officials from the Department of Finance continue to engage with stakeholders in the industry to identify and encourage new capacity to enter the market.

Finally, I would like to take this opportunity to assure the Deputy that it is Government's intention to ensure that implementation of the Action Plancan have a positive impact on the affordability and availability of insurance across all sectors in the economy including in indoor play facilities.