Insurance Industry
Dail Éireann — 2022-04-28
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Cormac Devlin (FF), Dún Laoghaire

We have seen those reductions particularly in motor insurance. People have experienced them. There has been good feedback from younger drivers in particular. That was a perennial issue for many years. Reducing the cost of insurance for consumers and businesses is critical, particularly when we see costs increase in energy, retail and other areas. I welcome the priority given to this issue by the Government. I acknowledge the work done in this area by the Ministers of State, Deputies Fleming, Troy and James Browne, and also by the Ministers for Finance; Enterprise, Trade and Employment; and Justice. I commend them on their efforts because from the get-go they have engaged with the insurance companies and we are seeing the benefits. The personal injury guidelines are clearly having impacts on the size of awards. Some 20% of awards are now under €5,000 and 29% are between €5,000 and €10,000, which means nearly half the awards are under €10,000. That compares with just 12% in 2020. Will the Minister of State give an indication of progress on the remaining actions in the Government's action plan on insurance reform?

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2022-04-28/debate/main
Retrieved: 2026-08-14T04:50:23+00:00
Sitting date: 2022-04-28