Vol. 550 No. 5
42 Mr. Durkan asked the Tánaiste and Minister for Enterprise, Trade and Employment if she has quantified the impact of increased insurance premiums on the economy, with particular reference to job losses arising directly from public liability and motor insurance increases; if she anticipates action which may fall within the remit of her Department to address the situation; and if she will make a statement on the matter. [9490/02]
In accordance with EU law, we cannot require insurance companies to notify us of increases in insurance premium rates. Accordingly, our Department does not have authoritative statistics on premium increases. However, we are very much aware of increases generally in insurance premiums for most types of cover and of the difficulties that this is creating for some businesses and for some people seeking motor insurance. I would be very concerned that any business might consider it necessary to reduce employment levels, due to such difficulties.
I am arranging to meet the Irish Insurance Federation and representatives of the main insurers here, once again to discuss these difficulties. I will be encouraging them to develop, in consultation with their clients, innovative strategies for controlling risk. It is my hope that such strategies will contribute towards a moderation of prices. Meanwhile, I await the final report of the interdepartmental implementation group, which was set up to progress the establishment of the Personal Injuries Assessment Board, PIAB, so that the board may be set up as quickly as possible. The Motor Insurance Advisory Board, MIAB, has finalised its report and arrangements for its printing and subsequent publication are now being made. Further work to improve health and safety standards in the workplace is also in progress.
