Michael Cahill (Kerry, Fianna Fail)
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259. To ask the Minister for Finance to urgently address the current situation whereby apprentices and recently qualified tradespeople are finding it almost impossible to get van insurance (details supplied); and if he will make a statement on the matter. [2484/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy is aware, neither I nor the Central Bank of Ireland can interfere with the provision or pricing of insurance products due to the EU Solvency II Directive. However, this Government remains committed to improving insurance costs and availability for householders, individuals and businesses across Ireland. I would draw your attention to the Programme for Government-Securing Ireland's Future which commits to publish a new Action Plan for Insurance Reform with a focus on encouraging further competition in the market and working with stakeholders to enhance transparency and affordability across all types of insurance.

In relation to motor insurance, insurance firms use various rating factors when deciding whether to provide coverage and on what terms. These factors can include the driver’s age, driving experience, profession, vehicle age and type, usage, claims history, number of drivers, where the vehicle is kept at night, and the address of the policyholder. Insurers continuously review and analyze relevant data and will assign varying weighting to risk factors, depending on the provider's individual risk appetite. Insurers may also base their prices on their own claims experiences, which means companies can assess these factors differently. Additionally, increasing costs for repairs and labour due to inflation are contributing to premium increases and as a consequence, prices can vary across the market.

Government has implemented a series of reforms of the insurance sector, which have been successful in attracting new entrants to the Irish market. For instance, OUTsurance, a major home and motor insurer, launched last year which is a positive development for consumer choice and competition. Insurance reforms have also promoted greater activity from Managing General Agents, introducing specialised expertise into the market. This, combined with growing competition in the brokerage sector, has improved access to niche insurance products and reduced premiums. International capacity providers have also expressed a more favourable perception of the Irish insurance market.

Maintaining a sustainable and competitive insurance market remains a key priority for the Government and I wish to assure the Deputy that I will continue to work with my colleagues to ensure that the new Action Plan for Insurance Reform, once developed, will continue to deliver tangible benefits for insurance consumers across the country.