I propose to take Questions Nos. 128 and 129 together.
I am very much aware of the high cost of insurance and I am concerned about the difficulties this is causing sporting organisations throughout the country. The insurance reform programme that I announced on 25 October last comprises a comprehensive set of inter-related measures designed to improve the functioning of the Irish insurance market. I chair a Ministerial committee established to drive the co-ordinated implementation of the reform programme across the relevant departments. Substantial progress is being made on a range of measures that will radically overhaul the functioning of the insurance market.
The Interim Personal Injuries Assessment Board is up and running and legislation is being prepared to establish the PIAB on a statutory basis. The Government has recently approved the drafting of the general scheme of the Bill to place the PIAB on a statutory footing. It is hoped to enact the legislation by year-end.
The Minister for Justice, Equality and Law Reform is preparing a Bill to reform the law on personal injuries which will include measures to deal with spurious and/or exaggerated claims, the issue of costs arising from unsuccessful claims and double compensation. My Department and the Competition Authority are undertaking a joint study into the insurance market. The study will identify and analyse barriers to entry and limitations on competition in the insurance marketplace. It is envisaged that the bulk of the work will be completed this year and that a report will be produced in the early part of 2004.
EU law prevents governments from intervening in the pricing or underwriting of insurance. However, Governments are free to take appropriate action to improve the functioning of the insurance market. I am determined that significant cost reductions will be achieved through implementation of the programme.