Dáil Éireann Debate, Wednesday - 20 April 2016
117. Deputy Róisín Shortall asked the Minister for Finance his plans to require insurance companies to engage in far greater data sharing as occurs in Northern Ireland so that fraud can be reduced and to make it easier for consumers to switch to a competitor. [7771/16]
View answerMy Department has commenced a Review of Policy in the Insurance Sector. This is being undertaken in consultation with the Central Bank, Departments and Agencies and other relevant stakeholders.
The objective of the Review is to recommend measures to improve the functioning and regulation of the insurance sector. This Review will include an examination of the factors contributing to the cost of insurance, which will include the issue of availability of insurance data.
Work on this review is currently underway, with the first phase examining the framework for motor insurance compensation in Ireland in conjunction with the Department of Transport, Tourism and Sport.
Work on the Review of Policy in the Insurance Sector will continue over the coming months and is expected to be completed by the end of this year. The final report will be presented to Government in due course.
