The publication of the final report on insurance reform by the Joint Committee on Enterprise and Small Business shows the success of the insurance reform programme. The joint committee sustained its commitment to the cause of insurance reform over the past four years. Since the publication of the first interim report, significant reductions have been made in insurance premia levels and improvements made in the environment in which insurance companies operate.
The joint committee expresses its appreciation for the support given by Ministers, including the Minister for Enterprise, Trade and Employment, Deputy Martin, the Tánaiste and Minister for Justice, Equality and Law Reform, Deputy McDowell, and the Minister for Transport, Deputy Cullen. The committee also thanks the former Ministers of Enterprise, Trade and Employment and Transport, Deputies Harney and Brennan, who assisted the work in its initial stages.
The joint committee expresses its thanks to those in the insurance industry and others who made presentations during 2006. I particularly wish to thank the Irish Hotels Federation which carried out very valuable research for the joint committee and which was of great assistance. The joint committee also wishes to thank O'Reilly Consultants which assisted it in its evaluation and analysis of the evidence given and the committee secretariat for its support during the project. I particularly wish to thank Mr. Myles O'Reilly and Mr. Eoin Faherty for their professionalism and immeasurable contributions to the report.
In adopting the final report, the joint committee has completed its work on insurance reform. The joint committee requests that its successor in the 30th Oireachtas prepare a report in two years and on several recommendations that have not been implemented.
I thank members for their great support and hard work to ensure insurance costs would be reasonable for consumers and that they would be internationally competitive. In particular, I thank the leaders of the groups, with special thanks due to our convener, Deputy Callanan, who was always by my side and ready to help whenever we needed him during the four and a half years it took to produce this report. I thank Deputy Hogan for giving us the benefit of his experience and expertise, and especially for rendering assistance in travelling anywhere the committee thought fit, including New York and other destinations across the United States. Deputy Howlin made a major contribution in the early stages of producing this report. I also thank Senators Coghlan and O'Toole and the Vice Chairman, Deputy Martin Brady, for his help and guidance during our compilation of the report.
Formal agreement of the report is proposed by Deputy Hogan and seconded by Deputy Callanan and Senators O'Toole and Coghlan. Is that agreed? Agreed.