Dáil Éireann Debate, Tuesday - 14 June 2016
155. Deputy Pearse Doherty asked the Minister for Finance when the working group examining the framework for insurance policy will report; if he will publish its report without delay; and if he will make a statement on the matter. [15390/16]
View answerMy Department's review of policy in the insurance sector is being conducted in consultation with the Central Bank of Ireland and other Departments and Agencies. The objective of the Review is to recommend measures to improve the functioning of the insurance sector. The Review includes an examination of the factors contributing to the cost of insurance.
The first phase of the Review is examining the current motor insurance compensation framework in Ireland. This work is being conducted jointly with the Department of Transport, Tourism and Sport. The joint group is working closely with the Central Bank of Ireland and has met with other stakeholders including the European Commission, Insurance Ireland, the Irish Brokers Association, the State Claims Agency and the Accountant of the Courts of Justice.
The Joint Working Group will report to myself and the Minister of Transport, Tourism and Sport in the coming days with final recommendations for our consideration.
The outcome of this work will feed into the wider review of policy in the insurance sector which I have outlined above. This work will continue over the coming months and a final report will be presented to me in due course.
These reports will be presented to Government in due course and any decision to publish these reports will be a matter for Government.
