Dáil Éireann Debate, Thursday - 14 July 2022
285. Deputy Ruairí Ó Murchú asked the Minister for Finance his Department’s plans to ensure the right of access to insurance link information following the recent European Commission finding; and if he will make a statement on the matter. [39163/22]
View answerAs the Deputy will be aware, InsuranceLink is a data pooling system administered by Insurance Ireland for the stated purpose of fraud detection. It has been publicly announced that in response to a European Commission investigation, Insurance Ireland has provided a series of commitments to overhaul access to the InsuranceLink database, including the creation of an independent application and appeals process. Following a consultation period, and a number of amendments to the initial proposals, the Commission has now found that Insurance Ireland's final commitments will ensure market participants' access to the InsuranceLink platform, and has decided to make them legally binding on Insurance Ireland. These are anchored in EU anti-trust laws and will remain in force for 10 years, as well as being monitored by the EU Commission.
I welcome the fact that Insurance Ireland has provided these commitments to reform access to the InsuranceLink database, including enhanced governance arrangements, which will ensure equitable and transparent access to this data. Information sharing and data analysis have become increasingly important in promoting competition in the insurance sector and encouraging new entrants. Therefore the solution arrived at between the European Commission and Insurance Ireland should both maintain market competition and protect customer choice in the private motor insurance market.
