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Shane Cassells
I welcome the Minister of State, Deputy Calleary, and his officials.
Seanad Éireann · 2022-12-06
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The enactment of the Bill is a milestone in the Government’s Action Plan for Insurance Reform. The Government has prioritised insurance reform and our current focus is on completing the reform agenda this year.
The personal injuries guidelines have been introduced, legislation to strengthen the laws on perjury has been enacted, the office to promote competition in the insurance market and the insurance fraud co-ordination office have been established, and changes to occupiers' liability are being considered by these Houses. The Tánaiste has rightly said the success of this plan will be measured not by the number of completed actions but rather by whether the reforms, implemented over the lifetime of the Government, result in reduced premiums and increased availability of insurance.
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I welcome the Minister of State, Deputy Calleary, and his officials.
When is it proposed to take the next Stage?
Now.
Is that agreed? Agreed.
When is it proposed to take Fifth Stage?
Now.
Is that agreed? Agreed.
I thank the Acting Chairperson, my officials and Senators Crowe, Kyne and Ó Donnghaile for their input during the debate.
The Personal Injuries Assessment Board, PIAB, as we all agree, provides an easier, quicker and cheaper means of resolving claims. This benefits the injured person, the person or company the claim is against and, indeed, society as a whole. Nevertheless, the Bill will enable PIAB to do much more. I acknowledge the significant work the former Minister of State, Deputy Troy, put into this legislation, including in his extensive engagement with stakeholders. I also thank Deputies and Senators for engaging on the Bill and ensuring its swift passage through the Oireachtas.
I met the team in PIAB a number of weeks ago at its headquarters in Tallaght. They have been preparing for the changes in the board’s operation the Bill will bring about. I will continue to engage with PIAB to ensure an appropriately resourced mediation function will be in operation as soon as possible. It will take time for the board to be able to undertake all its new functions, but my intention is to commence the new provisions of the Bill as quickly as possible.
The enactment of the Bill is a milestone in the Government’s Action Plan for Insurance Reform. The Government has prioritised insurance reform and our current focus is on completing the reform agenda this year. These reforms have been sought by interest groups and the insurance industry, and the Government has delivered. Across government, significant work has been undertaken under the action plan to address issues in the insurance market. The personal injuries guidelines have been introduced, legislation to strengthen the laws on perjury has been enacted, the office to promote competition in the insurance market and the insurance fraud co-ordination office have been established, and changes to occupiers' liability are being considered by these Houses.
The Tánaiste has rightly said the success of this plan will be measured not by the number of completed actions but rather by whether the reforms, implemented over the lifetime of the Government, result in reduced premiums and increased availability of insurance. While we have seen some evidence of improvement in the availability of insurance, premiums have decreased only for motorists to date. This ongoing improvement, at a time of overall price increases, indicates these actions have laid a solid foundation for change and are delivering positive outcomes for consumers. In light of the current inflationary pressures, it is vital all savings from the reform package be passed on to customers, and I am sending that message loud and clear to the insurance industry from here in Seanad Éireann. Only then will the full benefits of the action plan be realised.
I again thank the officials in the Department, who have worked exceptionally hard, particularly John Maher and Anne Barrett, who are with me here this evening. We will continue to ensure the work that is necessary for the Bill to take effect will produce the desired outcome, namely, reduced insurance premiums. I also thank the Acting Chairperson for his chairing of the debate; he has learned well from Senator Horkan.