Dáil Éireann debate -
Tuesday, 4 Feb 2003

Vol. 560 No. 3

Written Answers. - Insurance Costs.

Jack Wall

Question:

181 Mr. Wall asked the Tánaiste and Minister for Enterprise, Trade and Employment if her attention has been drawn to the extreme difficulties that theatre companies are having in obtaining insurance and that this is leading to some companies facing closure, while others are having to cut back on their number of productions; and the plans being put in place by her Department to solve this problem; and if she will make a statement on the matter. [2515/03]

Tánaiste and Minister for Enterprise, Trade and Employment (Ms Harney)

I am very much aware of the high cost of insurance in the State and I am concerned about the difficulties this is causing for theatre companies and other businesses.

On 25 October last, I announced my programme for fundamental insurance reform. The programme reflects the commitments given in An Agreed Programme for Government and comprises a comprehensive set of interrelated measures designed to improve the functioning of the Irish insurance market. The key measures include: establishment of a ministerial committee, chaired by myself, to oversee implementation of the reform programme, including the 67 recommendations in the Motor Insurance Advisory Board, MIAB, report; publication of the action plan to give effect to the MIAB recommend ations within a target timeframe; establishment of the Personal Injuries Assessment Board, PIAB, on an interim basis, pending preparation of the necessary legislation to put the PIAB on a statutory footing; and publication of the report of the implementation group on the PIAB.

While EU law precludes the imposition of price controls on insurance, I have made it clear that I expect aquid pro quo from the industry in response to my reform programme.

My Department in conjunction with the Competition Authority finalised terms of reference last December for a study being undertaken into the competitiveness of the Irish insurance market. The terms of reference are available at www.entemp.ie and www.tca.ie.