271. Deputy Seán Ó Fearghaíl asked the Minister for Enterprise, Tourism and Employment the key measures taken under the remit of his Department to control insurance costs for the rest of 2026; and if he will make a statement on the matter. [53501/26]

I want to thank the Deputy for the question.

As the Deputy is aware, responsibility for Insurance Policy lies with the Minister of State with special responsibility for Financial Services, Credit Unions and Insurance in the Department of Finance.

Insurance costs remain a priority for Government. In July last year we published the ‘Action Plan for Insurance Reform 2025-2029 – A Stronger Market, a Fairer Future’ (www.gov.ie/en/department-of-finance/publications/action-plan-for-insurance-reform-july-2025).

The Action Plan lists 26 actions led across a range of Government Departments’, to support an insurance market that is more affordable and transparent. The new Action Plan builds on the success of the 2020 Action Plan and will deepen reform across six key pillars: transparency & affordability; competitiveness & availability; legal reform; fraud; climate protection; and innovation & skills.

Actions being progressed by my Department under the Action Plan include:

• Action 3(a) for delivery in Q2 2027. Increasing the powers and remit of the Injuries Resolution Board (IRB) through legislative reform where necessary. Proposals under consideration include providing for default of injury claims into the IRB’s mediation process; the remittance of injury claims back to the IRB where new evidence (e.g. medical report) is presented in litigation; and the award of legal fees for claims resolved through the IRB.

• Action 3(b) delivery Q3 2026. Research on impediments to the acceptance of awards from the IRB.

• Action 2(c). Evaluating the potential of a Unique Identifier for personal injury cases to facilitate the integration of data across all resolution channels and track consistency in application of the Guidelines. The IRB are preparing a paper on how to carry out a pilot to test on this proposal, with the paper due for delivery in Q3 2026.

• Action 9(c). Engaging with key stakeholders in the insurance industry and enterprise fora on issues relating to availability and affordability of insurance. Work on this action will continue through the ‘Office to Promote Competition in the Insurance Market’ established in the Department of Finance and supported by officials from my own Department.

• Action 22. Examine the level of awards in minor/moderate personal injuries, including exploring the feasibility of both introducing a cap for certain categories, and the introduction of a dedicated model for the resolution of minor soft tissue injuries – to be completed by Q4 2026.

• Action 4. Already as part of government’s Action Plan and at Minister Burke's request, last year the IRB completed phase one of a benchmarking exercise by examining levels of Irish personal injury awards versus the UK. The findings from this research the ‘Review of Compensation for Minor Soft Tissue Injuries in Ireland and the U.K.’ were published last October and will support future reviews of the Personal Injuries Guidelines. Minister Burke has now asked the IRB to continue its work by undertaking phase two of the benchmarking exercise with a further, more extensive body of research on personal injuries awards to be completed in early 2027.

The costs of injury claims have long been recognised as a contributory factor in insurance premiums for businesses and consumers. The IRB 2025 Annual Report shows that the volume of injury claims is down 35% since 2019, with the median award value reduced by 24% since 2020. These reductions demonstrate the impact of the reforms Government has introduced in recent years.

In June 2025 I established the Cost of Business Advisory Forum (CoBAF) bringing together Business Groups, Independent Regulators and Government Departments’ under an independent Chairperson to analyse operational costs for Irish enterprises and to inform Government policy. One of the Forum’s thematic meetings focused on insurance. The final report of the CoBAF including a chapter on insurance is scheduled to be brought to Government and is expected to be published on 22 July this year.

Minister Burke and I will continue to work alongside my colleagues in the Cabinet Committee Subgroup on Insurance Reform, to drive the insurance reform agenda and to advocate on behalf of business and consumers taking account of the wider issue of competitiveness and impacts on our economy.