Dáil Éireann Debate, Tuesday - 10 February 2026
222. Deputy Aisling Dempsey asked the Tánaiste and Minister for Finance if he plans to launch a transparency code as included in the Action Plan on Insurance Reform as the first priority action; and if he will make a statement on the matter. [9551/26]
Amharc ar fhreagraThe Transparency Code is a priority action under the Government’s Action Plan for Insurance Reform 2025–2029, aimed at improving transparency, fairness, and consumer understanding in Ireland’s private motor insurance market.
My Department, working with the Central Bank of Ireland and the insurance sector, is currently finalising the Code. The Code’s primary objective is to improve fairness, clarity, and accountability across the motor insurance market. It's aim is to establish clear standards for how insurers and intermediaries present information to customers, ensuring the use of plain English, standardised definitions, and accessible explanations of how premiums are calculated.
Work to date has focused on providing consistency in how insurers communicate premium information, aligning industry practices with wider consumer protection reforms, and preparing the sector for implementation. When implemented, the Code will help consumers better understand the key factors influencing their motor premiums, support more informed decision making, and strengthen trust in pricing practices. It will also enhance transparency around rating factors, fees, discounts, and the general reasons an application may be declined. By promoting more consistent communication, the Code will support the Government’s broader goal of a transparent, competitive, and consumer-focused insurance sector.
It is my expectation that the Code will be finalised shortly. Once operational, the Code will ensure that the insurance market operates with integrity, build trust, and ensure that consumers are empowered to make informed decisions.
The Government remains fully committed to the continued reform of the insurance sector and will continue to monitor the progress of measures to enhance transparency, affordability and availability of insurance via the Cabinet Sub Group on Insurance Reform and work to secure a fair and transparent insurance market in Ireland.
