Joe Cooney (Clare, Fine Gael)
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26. To ask the Minister for Enterprise, Trade and Employment the engagement he has had with Government colleagues regarding insurance and reducing the cost of insurance for businesses; and if he will make a statement on the matter. [50461/25]

Niamh Smyth (Cavan-Monaghan, Fianna Fail)
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I am acutely aware of the impact that the cost of insurance has for business and a key focus of my Department is reducing the cost of doing business to drive competitiveness.

My colleague Minister Burke has established the Cost of Business Advisory Forum under the remit of the Department, with the objectives of reducing the costs of running a business and addressing delays which can impact operations. The forum brings together business owners, retailers, tourism operations, accounting professionals and representative groups, along with regulators and state agencies.

Earlier this month, my Department published the Action Plan on Competitiveness and Productivity which outlines 85 actions to enhance Ireland’s economy, with 26 priority measures. This strategic plan aims to create jobs, boost productivity, attract foreign invest and make Ireland a more competitive destination for business.

The Programme for Government - Securing Ireland’s Future, sets out a range of commitments to build upon the success of the previous Government’s insurance reform programme. The commitments include the re-establishment of the Cabinet Committee sub-group on Insurance Reform which is focused on addressing issues within the sector, particularly regarding costs and availability. Both Minister Burke and I are members of the Cabinet Committee sub-group, which is chaired by the Tánaiste.

On the 24th July, the Government published its new ‘Action Plan for Insurance Reform 2025-2029 – A Stronger Market, a Fairer Future’. The Action Plan lists 26 actions (including 10 priority actions), led across a range of Government Departments to improve the availability and affordability of insurance. 11 of the actions relate to the work of my Department and its Agencies as part of a cross-Government approach.

Central to the Action Plan will be the continued strengthening of the Injuries Resolution Board, an Agency of my Department, which resolves personal injury claims in a fair, prompt and non-adversarial manner without the need for unnecessary litigation.

Since establishment in 2004 the Injuries Resolution Board has dealt with over 500,000 personal injury claim applications and made nearly 200,000 assessments of compensation. In 2024 alone €76 million was saved through the work of the Board from the avoided legal costs associated with litigation. I want to see these savings, and those from other reforms in the new action plan being passed on to businesses.

Minister Burke has addressed issues related to the cost of insurance with Government colleagues on several occasions in his capacity as Minister for Enterprise, Tourism and Employment;

• On 19th March 2025, meeting with the Ministers for Finance and Justice for a discussion regarding the Personal Injuries Guidelines.
• On 10th April 2025, attending the Cabinet Committee on Economy, Trade and Competitiveness where the agenda featured an item on re-establishing the Cabinet Committee Sub-Group on Insurance Reform.
• On 6th May 2025, meeting with the Minister for Justice, the CEO of the Injuries Resolution Board and the Attorney General for a discussion on the potential impact of the revised Personal Injuries Guidelines on the Injuries Resolution Board and the wider economy.
• On 9th July 2025, attending the Cabinet Committee Subgroup on Insurance Reform to consider market developments, the Action Plan for Insurance Reform, and the Personal Injuries Guidelines.