Dáil Éireann Debate, Thursday - 18 April 2024
110. Deputy Jackie Cahill asked the Minister for Enterprise, Trade and Employment the status of the implementation of the Action Plan for Insurance Reform measures that fall under the remit of his Department; and if he will make a statement on the matter. [16885/24]
Amharc ar fhreagraMy Department has been involved in the Action Plan for Insurance Reform from the beginning.
The actions that have been allocated to my Department under the Action Plan are:
As part of the Sub-Group of the Cabinet Committee on Economic Recovery and Investment to agree and publish an Action Plan,
As part of the Sub-Group of the Cabinet Committee on Economic Recovery and Investment to make a report to Government on progress by end of 2020,
As part of the Sub-Group of the Cabinet Committee on Economic Recovery and Investment to meet regularly, engage with stakeholders and publish progress of actions every six months,
Enhancing and reforming the role of the Personal Injuries Assessment Board,
Giving the Competition and Consumer Protection Commission more effective enforcement powers to punish and deter anti-competitive conduct, and
Creating an office within Government tasked with encouraging greater competition in the Irish insurance market.
Action 1
My Department was originally responsible for the publication of the Action Plan for Insurance Reform on 8 December 2020. The Report detailed 66 actions.
Action 2
95% of these actions have now been implemented according to the 4th Implementation Report on the Action Plan for Insurance Reform which was published on 29 February 2024.
Previous Implementation Reports have been published in July 2021, February 2022 and November 2022.
Action 3
I continue to attend the Sub-Group of the Cabinet Committee on Economic Recovery and Investment which oversees it.
Action 4
The Action Plan set as one of its key measures the enhancement and reform of the role of the Personal Injuries Assessment Board. I have striven to ensure that this has been put in place since commencing office. The Personal Injuries Resolution Board Act 2022, which achieves these goals, was enacted on 13 December 2022 and commenced through a series of commencement orders during 2023. This phased commencement was to ensure that both the Board and stakeholders in the personal injury claims environment were effectively prepared for the introduction of its measures.
The Act transforms the Injuries Resolution Board by enabling it to offer mediation, retain more cases, address the possibility of fraudulent claims and gives it a data gathering and reporting role. A mediation service is being introduced also on a phased basis with mediation for employer liability claims introduced in December 2023. Mediation for public liability claims is scheduled to commence in May 2024 and for motor liability claims in September 2024.
These measures are intended to facilitate an increase in the number of personal injury claims that may be resolved through the Board’s cost-efficient process and without recourse to litigation. This will save both money and time for those involved in personal injury claims
To take into account the wider role that the Board now plays in the personal injury claims environment Its name has been changed, under the Act, to the Personal Injuries Resolution Board.
Action 5
With regard to those actions under the Action Plan which involved giving the Competition and Consumer Protection Commission more effective enforcement powers to punish and deter anti-competitive conduct, the Competition (Amendment) Act 2022 was signed into law on the 29 of June 2022. The Act, which I commenced on 27 September 2023, represents a step change in competition enforcement for Ireland. It provides for a new civil enforcement regime for the CCPC and ComReg under which breaches of competition law can be enforced through administrative sanctions with maximum fines of up to €10 million or 10 per cent of total worldwide turnover, whichever is the greater.
Action 6
Officials in my Department are members of the Office to Promote Competition in the Insurance Market, chaired by the Department of Finance, which seeks to encourage greater competition between existing insurers in the Irish market, including through expanding product offering and encouraging new entrants to enter the insurance market.
