Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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216. To ask the Minister for Finance if he has considered targeted supports or legislative interventions to protect voluntary groups in Cork, including sports clubs, cultural festivals and community organisations, from prohibitive insurance costs which threaten their viability. [49875/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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I am aware of the vital role that voluntary and community organisations play in Cork and across the country. Sports clubs, cultural festivals and community groups are at the heart of local life, providing recreation, social cohesion and opportunities for people of all ages. It is important that these groups have access to appropriate and affordable insurance so that they can continue to operate and deliver benefits to their communities.

With regard to available supports, following the successful launch of its Community Insurance Scheme for Tidy Towns groups, Irish Public Bodies (IPB) Insurance is actively exploring opportunities to expand its offering to community and voluntary organisations. The company is currently focused on ensuring the existing Tidy Towns scheme is implemented smoothly and that any issues are addressed quickly.

IPB Insurance is not a State insurer, but rather a mutual insurance company owned by its local authority members. Like all insurers operating in Ireland, IPB is subject to the EU Solvency II Directive, which imposes strict capital and governance requirements designed to protect consumers and safeguard financial stability. While this framework is important for maintaining trust and resilience, it does place constraints on the type and level of risk insurers can take on. Nevertheless, I am encouraged by IPB’s engagement in the community and voluntary insurance space and their commitment to explore further opportunities.

More broadly, the Government remains committed to reforming the insurance sector to enhance affordability, availability, and transparency. On 24 July, Government published its new Action Plan for Insurance Reform, which builds on the reforms already delivered since 2020. The Plan includes a comprehensive series of targeted actions across key areas such as transparency and affordability, legal reform, fraud reduction, climate protection, innovation and skills and competitiveness.

One of a number of priority actions within this Plan is to enhance market competitiveness by actively engaging with international insurers and encouraging new entrants into the Irish market. By broadening the pool of providers, we aim to increase choice and improve availability for consumers, businesses and community organisations alike.

In conclusion, Government policy remains focused on creating a more sustainable and competitive insurance market. Through ongoing reform, engagement with insurers, and targeted initiatives like the IPB Tidy Towns Scheme, Government is working to ensure that voluntary groups, including sports clubs, cultural festivals, and community organisations can access affordable insurance.