Dáil Éireann Debate, Thursday - 18 December 2025
200. Deputy Tony McCormack asked the Tánaiste and Minister for Finance if he is satisfied that insurance reforms are being passed on to SMEs and retailers, who continue to face high premiums; and if he will make a statement on the matter. [69878/25]
View answerThe previous Action Plan for Insurance Reform, published in 2020, delivered substantial changes to reduce claims costs and create the conditions for a more competitive and affordable insurance market. Most notably, the rebalancing of the Duty of Care, reforming the Injuries Resolution Board (formerly PIAB) and the introduction of new Personal Injuries Guidelines.
There are clear indications that the market responded to the Government reform agenda. Key to this was the overhaul of the duty of care, the policy intent of which was to address ‘slips, trips and fall’ type claims, which are prevalent in the activity-based or heavy-footfall sectors. The Courts and Civil Law (Miscellaneous Provisions) Act 2023 further strengthened the duty of care, thereby helping to reduce the volume of costly litigation, particularly for “slips, trips and falls” cases that disproportionately affect hospitality and retail businesses. The National Claims Information Database (NCID), operated by the Central Bank of Ireland, also provides independent and transparent data on claims costs, settlement channels, and premium trends.
While certain reforms have begun to stabilise award levels, delays in litigation and wider inflationary factors continue to impact premiums. The Programme for Government commits to a comprehensive series of actions aimed at enhancing affordability, availability and transparency across the insurance sector. One of the first steps to deliver on these commitments is the 2025 Action Plan for Insurance Reform, which was published by the Government on 24th July. This Action Plan sets out an updated and comprehensive suite of targeted measures to further improve affordability, availability, and transparency across the sector. Key actions include faster release of NCID data, enhanced reporting standards, and ongoing engagement with both domestic and international insurers to encourage greater competition in the market. Similarly, the Office to Promote Competition in the Insurance Market (OPCIM) has been active in seeking to restore insurance availability in sectors that previously struggled, such as equestrian activities, inflatable hire, adventure tourism, childcare, and high-footfall SMEs like pubs and hospitality.
Deepening and widening the supply of insurance and securing a sustainable insurance market is a key priority of Government to ensure broader availability and affordability across all types of insurance.
