Vol. 558 No. 6
30 Mr. Durkan asked the Tánaiste and Minister for Enterprise, Trade and Employment the extent to which she expects insurance costs in respect of motor cover, public liability or house insurance to be reduced arising from initiatives taken by her Department or proposed in the near future; if she expects an improvement of competition in the insurance industry; and if she will make a statement on the matter. [25100/02]
I cannot give a definitive answer to the Deputy. My responsibility is to spearhead the reform programme, which I announced at the end of October and which is designed to improve the functioning of the Irish insurance market. It is the responsibility of the insurance industry, as a quid pro quo, to introduce cost reductions in premia for consumers.
In parallel with, and complimentary to the reform programme, my Department and the Competition Authority are undertaking a study into the insurance market. The terms of reference are to identify anti-competitive practices or other constraints on competition in the non-life insurance market in Ireland, with particular reference to motor insurance, employer's liability and public liability insurance; to highlight any anti-competitive practices or other constraints that are particular to the Irish market; to make recommendations for legislative and other changes to ensure that competition works well for consumers in the Irish market; and to make, in the case of any problems identified at EU level, recommendations for change at that level.
