Dáil Éireann Debate, Tuesday - 8 September 2020
281. Deputy Niall Collins asked the Minister for Finance if issues raised in correspondence by a person (details supplied) regarding insurance for the sport horse industry will be addressed; and if he will make a statement on the matter. [21400/20]
View answerAs the Deputy will appreciate, it would be inappropriate for me, as Minister for Finance, to comment on individual cases such as that of his constituent. However, the issue of the cost and availability of insurance for many businesses and consumers is an issue that both Minister of State Fleming and I are very much aware of.
Unfortunately, there is no single policy or legislative measure to remedy this issue and there are also many constraints faced by the Government in trying to address it, in particular the fact that it cannot direct the courts as to the award levels that should be applied, or direct insurance companies as to their pricing levels. As referenced in relation to award levels in the details supplied, I believe that a necessary step that needs to be addressed as a matter of priority is to bring the levels of personal injury damages awarded in this country more in line with those awarded in other jurisdictions. The establishment of the Judicial Council last December is very important in this regard, and it is expected that the Personal Injuries Guidelines Committee will submit draft Guidelines to the Executive Board of the Judicial Council by 28 October. I believe that these guidelines could play a role in the lowering of award levels and a more consistent application of making awards in courts and thus ultimately benefiting consumers and businesses such as referred to by the Deputy.
In addition to this, I can assure the Deputy that the Government is actively prioritising reform of the insurance sector with particular emphasis on motor, public liability and employer liability insurance, the latter two of which are very relevant to the equestrian sector. In that regard, the “Programme for Government – Our shared Future” document lays out commitments that are aimed at addressing consumer and business concerns on the cost of insurance. These commitments include increasing transparency; reviewing duty of care legislation; looking at how to further enhance the role of the Personal Injuries Assessment Board, and increasing competition in the market.
In conclusion, making progress will be a cross-Departmental approach and we will build and expand upon previous work done by the Cost of Insurance Working Group. Both Minister of State Fleming and I will be cooperating with relevant Ministerial colleagues. In that regard, it is my intention, along with An Tánaiste, to bring proposals to Government shortly that will set out the modalities for implementing the Programme for Government commitments, as well as identifying our near term priorities so that progress can be made.
