Dáil Éireann Debate, Wednesday - 20 April 2005
102 Mr. G. Mitchell asked the Minister for Enterprise, Trade and Employment the number of the 47 recommendations in the Competition Authority’s final report and recommendations in regard to competition in the non-life insurance market that will be implemented by the end of 2005; the recommendations he intends to implement in that timeframe; and if he will make a statement on the matter. [12064/05]
View answer128 Mr. Penrose asked the Minister for Enterprise, Trade and Employment his response to the recently published report of the Competition Authority into the insurance sector; and if he will make a statement on the matter. [12100/05]
View answerI propose to take Questions Nos. 102 and 128 together.
The 47 recommendations contained in the report of the Competition Authority are designed to make the insurance market in Ireland more open, transparent and competitive. Accordingly, I welcome the authority's findings and conclusions.
However, responsibility for the implementation of the majority of the recommendations lies with the Department of Finance and the Irish Financial Regulatory Services Authority. In this regard I have recently written to my colleague, the Minister for Finance, asking how he plans to progress the implementation of the recommendations in his area.
The remaining recommendations are directed at the Departments of Transport and Justice, Equality and Law Reform, the Motor Insurers Bureau of Ireland and the Courts Service. I am also writing to the relevant Ministers and bodies concerned in the context of progressing matters.
Given the importance of an open and competitive insurance sector to consumers, businesses and the economy as a whole, I hope that each of the appropriate bodies will take the necessary measures to implement the recommendations as quickly as possible.
