Dáil Éireann Debate, Tuesday - 21 February 2023
211. Deputy Michael Creed asked the Minister for Finance the engagement he has had in recent times with an organisation (details supplied) in connection with affordable insurance for the sector to facilitate its calendar of events in 2023; and if he will make a statement on the matter. [8794/23]
Amharc ar fhreagraThis Government recognises the fact that a number of outdoor/high-footfall activity sectors, including motorcycle sports, are currently facing difficulty in terms of affordability and availability of insurance. It has therefore prioritised the implementation of the Action Plan for Insurance Reform, which aims to improve the cost and availability of insurance for all groups, including sporting organisations. The latest Implementation Report, published in November 2022, demonstrates that significant progress has been achieved, with approximately 90 percent of the actions either delivered or ongoing.
One of the most significant developments has been the implementation of the Personal Injuries Guidelines , which have reduced average award levels by nearly 40 per cent. Government has consistently emphasised its clear expectation that insurers should pass on any savings arising from the reform agenda to customers. Minister of State Carroll MacNeill is meeting with the main insurers in the Irish market this month and will impress upon them the need to reflect lower claims costs through reduced premiums, but also to expand their risk appetite to provide cover to lesser-served, ‘pinch-point’ sectors, such as motorsports.
Work remains ongoing on a whole-of Government basis to ensure the timely implementation of the remaining elements of the Action Plan . Of particular relevance are the proposed amendments to the duty of care legislation. The policy intent is that these measures will have a significant impact on the issue of slips, trips and falls, and thus should assist the sporting and outdoor activity sector as a whole.
In conclusion, securing a more sustainable and competitive market through deepening and widening the supply of insurance in Ireland remains a key policy priority for this Government. It is therefore my intention to work with my Government colleagues to ensure that the implementation of the Action Plan will continue to have a positive impact on the affordability and availability of insurance for all groups, including sporting clubs and organisations.
