Dáil Éireann Debate, Tuesday - 28 March 2023
247. Deputy Holly Cairns asked the Minister for Finance the steps he is taking to assist a sporting body (details supplied) in accessing affordable insurance cover; and if he will make a statement on the matter. [15247/23]
Amharc ar fhreagra248. Deputy Darren O'Rourke asked the Minister for Finance if he is aware that an organisation (details supplied) cannot get insurance cover; the measures he is taking to address this matter; and if he will make a statement on the matter. [15300/23]
Amharc ar fhreagra249. Deputy Mick Barry asked the Minister for Finance if he will intervene with the insurance sector to ensure that steps are taken to ensure that motorcycle clubs are able to have their events insured, which is essential for the sport to continue; and if he will make a statement on the matter. [15329/23]
Amharc ar fhreagraI propose to take Questions Nos. 247, 248 and 249 together.
Government is aware that a small number of activity-related sectors are currently facing difficulty in terms of affordability and availability of insurance. We have 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 such as those involved in motorcycle racing. The third Action Plan Implementation Report, published in November, demonstrates that considerable progress has been achieved, with the vast bulk of the 66 actions contained therein now delivered or ongoing.
Both Minister of State Carroll MacNeill and I have raised this issue directly with the insurance industry, including with its representative organisation Insurance Ireland. Furthermore, officials from my Department have been in contact with a wide range of stakeholders in the motorcycle racing sector to gain an insight into the scale and scope of the issue. I understand that while events such as motorcycle test and track days continue to operate, motorcycle racing is facing difficulties with insurance availability.
It is a feature of the Irish insurance market that some smaller sectors, including motorcycle racing, have traditionally been dependent on specialist UK providers passporting into Ireland. As a consequence of the UK’s decision to leave the EU, this practice has now ended and it has become more expensive and difficult for niche underwriters from the UK to provide their products here. This has been exacerbated by the small size of some of these sectors, meaning that just one or two large or catastrophic claims can negatively impact insurance capacity for an extended period of time.
At the same time, however, work is ongoing to investigate insurance in the sporting sector as a whole, by the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media in conjunction with Sports Ireland. Accordingly, National Governing Bodies have been invited to contribute to this exercise. Officials from the Department of Finance remain in contact with their counterparts and all queries regarding this study should be directed to the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media.
In conclusion, I wish to reassure the Deputy that it is the my intention to continue 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.
