Brendan Smith (Cavan-Monaghan, Fianna Fail)
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111. To ask the Minister for Finance the measures he will introduce in respect of insurance reform; and if he will make a statement on the matter. [39417/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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To directly respond: the Government is developing a new Action Plan for Insurance Reform, which will set out a comprehensive series of targeted measures to improve the affordability, availability, and transparency of insurance for consumers, businesses, and community groups.

The new Plan will build on the progress achieved through the 2020 Action Plan, which delivered major reforms including the rebalancing of the duty of care, reform of the Injuries Resolution Board, introduction of Personal Injuries Guidelines, the banning of price walking in the home and motor insurance markets, and the establishment of the Office to Promote Competition in the Insurance Market.

These changes helped create a more competitive market, with new providers such as OUTsurance, Revolut, and Fastnet entering the motor insurance sector, and existing insurers expanding their coverage into areas like hospitality, SMEs, and leisure.

However, some sectors continue to face challenges around cost and access. The new Action Plan will deepen reform across six key themes: transparency and affordability, competitiveness and availability, legal reform, fraud, climate protection, and innovation and skills.

This work is being driven at Cabinet level through the Cabinet Sub-Group on Insurance Reform, chaired by An Tánaiste, and was informed by a public consultation process, which received over seventy submissions from a wide range of stakeholders including consumers, businesses, representative bodies, and insurers.

The Cabinet Sub-Group met to consider the draft Action Plan on 9 July, and the final Action Plan will be agreed at Government level shortly. After that I would expect that we will be in a position to publish the new plan.