Insurance Industry
Dail Éireann — 2026-02-10
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Robert Troy (FF), Longford-Westmeath

I thank the Deputy for raising this matter. The Government is progressing the commitments in the programme for Government to further reform the insurance sector in Ireland and ensure transparency, affordability and availability of insurance for all consumers. Significant progress was achieved through the 2020 action plan for insurance reform. Key measures delivered included the introduction of the personal injuries guidelines, legal reforms to rebalance the duty of care and the establishment of the office to promote competition in the insurance market. Those actions helped to create a more competitive market and have supported new entrants into the Irish insurance sector.
The Action Plan for Insurance Reform 2025-2029, published in July 2025, is comprised of 26 actions being led across a number of Departments, ten of which are priority actions. Of those priority actions, transparency in the insurance sector is a key priority, with a transparency code for the insurance industry well advanced and to be published in the coming weeks. The code will require insurers to provide simple, understandable explanations of how premiums are formed, what mitigating actions may be available to customers and what broader factors influence pricing. It will also ensure consumers can directly receive additional information, upon request, to better understand the factors impacting their premium.
Work is ongoing in the office to promote competition in the insurance market to enhance competition. Meetings have taken place with insurers to address capacity issues. The office has established a speciality forum to explore the speciality insurance sector and examine how Ireland can be effectively positioned and promoted as a leading jurisdiction for speciality insurance business.
My Department is also working closely with the Office of Parliamentary Counsel to the Government to progress the right-to-be-forgotten legislation to ensure fair access for cancer survivors to financial services, specifically mortgage protection insurance, and to allow the Bill to progress in the coming weeks.
The Government is firmly committed to addressing the cost and availability of insurance through implementing the reforms set out in the programme for Government and the Action Plan for Insurance Reform 2025-2029.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2026-02-10/debate/main
Retrieved: 2026-08-14T04:54:36+00:00
Sitting date: 2026-02-10