Dáil Éireann Debate, Tuesday - 26 May 2026
212. Deputy Seán Ó Fearghaíl asked the Tánaiste and Minister for Finance for an update on the progress made on the Action Plan for Insurance Reform launched last July; and if he will make a statement on the matter. [39637/26]
View answerThe Government is progressing the actions in the Action Plan for Insurance Reform 2025-2029 to further reform the insurance sector in Ireland, with a view to ensuring greater transparency and improving the affordability and accessibility of insurance for all consumers.
Significant progress has been made under the 2020 Action Plan for Insurance Reform, including the introduction of the Personal Injuries Guidelines, legislative reforms to rebalance the duty of care, and the establishment of the Office to Promote Competition in the Insurance Market.
As part of the 2025 Action Plan, a new Motor Insurance Transparency Code was launched on 2 March 2026, designed to enhance trust, clarity, transparency, and understanding in how motor insurance premiums are communicated to consumers. Work is also ongoing in the Office to Promote Competition in the Insurance Market (OPCIM) to enhance competition in the insurance market to address capacity issues, and to examine how Ireland can be effectively positioned and promoted as a leading jurisdiction for insurers.
My Department is also actively progressing the “Right to be Forgotten” legislation, which represents a key commitment under the Programme for Government and is an important measure to support fair access to mortgage protection insurance for cancer survivors. On 27 April 2026, Cabinet approved Government amendments to the Central Bank (Amendment) Bill 2025, it will be taken at Committee Stage this coming week and it is my intention, with the cooperation of all concerned, to progress the Bill swiftly through the Oireachtas in advance of the summer recess.
The Government remains firmly committed to addressing the cost and availability of insurance through implementing reforms which foster a supportive, competitive and sustainable insurance market for the benefit of all consumers.
