Michael Ring
Ceist:120 Mr. Ring asked the Tánaiste and Minister for Enterprise, Trade and Employment her plans to investigate and stop the increasing costs of insurance, particularly for small businesses. [3183/02]
Vol. 547 No. 3
120 Mr. Ring asked the Tánaiste and Minister for Enterprise, Trade and Employment her plans to investigate and stop the increasing costs of insurance, particularly for small businesses. [3183/02]
I am very much aware of the substantial increases in insurance premiums that many firms are facing and of the problems that this is creating for them.
The pricing and underwriting of insurance is, however, a matter for individual insurance companies. EU law prevents us from intervening in relation to the matter of premium levels or in respect of what risks they are prepared to underwrite. Insurers make decisions on provision of cover based on their assessment of that particular risk.