The rising cost of insurance for all sectors is a major concern. While it is understood that the cost of premiums is related to the level of risk, there seems to be a sweeping view taken when calculating that risk. Practicalities determine there is seldom, if ever, an individual assessment of risk carried out, which results in some businesses being penalised for the failings of others.

The Alliance for Insurance Reform recently made a presentation to Department of Finance, which outlined that as many as 35 sectors are either struggling to get insurance or cannot obtain it at all. Those who have managed to get insurance cover have done so at a high cost and are left with a limited number of insurers who will engage with them. Those who fail to get a quote for insurance are left with no alternative but to cease their operations and abandon their plans. The denial of access to insurance cover is an immediate threat. We are in danger of losing thousands of small businesses and voluntary organisations, including adventure centres for children, caravan and camping parks, bike hire shops, equestrian sports, home care providers, festivals and events. For example, a popular, long-established attraction, Aqua Splash, Dromineer, County Tipperary, reopened in May when restrictions were eased. In exhaustive efforts to renew their insurance, it contacted numerous insurers in Ireland and the UK and not one would insure the business. Unfortunately, it is not alone in this dilemma. It appears anything to do with water sports or child play centres has become a taboo for insurance companies. This prevailing attitude impacts on a wide range of activities and services.

The Minister of State, Deputy Fleming, has established an office for insurance competition to encourage greater competition in the insurance sector. It is up and running since last December. There appears to be little progress. We have no reports of insurers contacted or new deals done. There are no announcements of new underwriters setting up in Ireland to take advantage of reforms that have happened and are due to happen. There is no sign of the expected new entrants to the insurance market. Where are the specialists in underwriting areas such as child-oriented enterprises, hospitality and tourism, leisure and the creative and sports sectors? The number of sectors that cannot get cover gives an indication of the scale and urgency of the supply issue. The market will take time to respond to reforms. In the interim, the Government must intervene with a sense of urgency on behalf of the sectors I have identified.

I thank the Deputy for raising the issue of insurance costs for business in the Chamber again. I share his concerns about it, as Minister responsible for employment and enterprise. I assure the House that insurance reform is a priority for the Government. We established a Cabinet committee sub-group on insurance reform, which I chair. It met yesterday and is overseeing the implementation of the action plan for insurance. That is all about bringing down costs for consumers and businesses, introducing more competition to the market, preventing fraud and reducing the burden and cost on businesses and community and voluntary organisations. We will publish our six-monthly update report in the next week.

Significant progress has been made since we started implementing the action plan, for example, the introduction of new personal injury guidelines. The latest data from the Personal Injuries Assessment Board, PIAB, indicate that payouts on claims made through that board have gone down 50% since the guidelines were introduced. We expect to see that reflected in the courts and in lower premiums, though not 50% lower, as the guidelines begin to take effect.

We have established an office to promote competition in the insurance market chaired by the Minister of State, Deputy Fleming. It talks to insurance companies and underwriters and asks them to look again at Ireland and to enter our insurance market. The Deputy will be aware that one large underwriter, Berkshire Hathaway, has expressed an interest in coming back into Ireland in relation to professional indemnity insurance, which is an important issue.

The Criminal Justice (Perjury and Related Offences) Bill has now been enacted and will help us to crack down on insurance fraud and exaggerated claims. That Act will be commenced in the next few weeks by the Minister. The Minister of State, Deputy Troy, is developing proposals to reform the Personal Injuries Assessment Board in order that more claims are settled there, thereby significantly reducing legal costs.

It may be particularly relevant to what the Deputy mentioned that the Department of Justice has recently completed its review of the Occupiers' Liability Act, including the issue of the duty of care and notices and waivers. That is there to increase protections for consumers, businesses, sporting clubs and community groups. The Minister of State is working on formal proposals that can be brought to Government for legislative change to rebalance the expectations in businesses versus those who use those businesses as to who gets injured and why.