Insurance reform action plan
Deputy Ellis said car insurance premiums are still rising and asked when the new insurance reform action plan will be published. Minister of State Troy said the plan is well advanced, public submissions will be sought soon, and finalisation is hoped for within two months.
Car insurance hikes are hitting the ordinary motorist, particularly loyal customers. Despite certain reforms that lowered legal costs and claims, these savings are not being passed on to the customer. The Government has given a commitment in the programme for Government to publish a new action plan for insurance reform. When will this plan be published and its recommended reforms implemented?
Comment on this
As Minister of State with responsibility for insurance reform, I confirm to the Deputy that work is well advanced on the new action plan. I have met with a number of key stakeholders and it is hoped we will seek submissions from the public on the action plan in the next number of weeks with a view to having it finalised in the next two months.