Insurance Industry
Dail Éireann — 2026-05-26
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Robert Troy (FF), Longford-Westmeath

As the Deputy will be aware, we are implementing the second action plan on insurance reform. Reforms are working. The latest CSO data of April 2026 shows that in the year to date insurance premiums are 2.2% lower this year than in April 2025. The Deputy may want to dispute that figure. Premiums are still 35.8% lower than they were at the peak of 2016. I acknowledge that we need to keep a close focus on this to ensure we continue to see a downward move. This transparency code will help to achieve that. Some 2.2 million policyholders will see the benefit of this code in their quotations and renewal documents from quarter 3 of this year. Despite the fact that it is a voluntary code, 97.5% of insurers and intermediaries selling insurance in this State have already signed up to it. This will enable consumers to see exactly how their policy is charged and to shop around to ensure they get the best value for money in their policy.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2026-05-26/debate/main
Retrieved: 2026-09-14T01:01:04+00:00
Sitting date: 2026-05-26