Dáil Éireann Debate, Tuesday - 26 May 2026
208. Deputy Paul Lawless asked the Tánaiste and Minister for Finance if he will provide an update on the implementation of the Action Plan for Insurance Reform 2025-2029; and if he will make a statement on the matter. [39396/26]
Amharc ar fhreagraThe Government remains firmly committed to delivering measures to reduce insurance costs via the Action Plan for Insurance Reform 2025–2029. Significant progress was 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.
The 2025 Action Plan sets out a number of priority actions, focused on areas where the greatest impact on transparency, affordability and availability of insurance can be achieved. As part of this, a new Motor Insurance Transparency Code was launched on 2 March 2026. The Code is designed to enhance trust, clarity, transparency, and understanding in how motor insurance premiums are communicated to consumers. The Government is also actively progressing the “Right to be Forgotten” legislation, which represents a key Programme for Government commitment and an important measure to support fair access to mortgage protection insurance for cancer survivors. In late April, Cabinet approved Government amendments to the Central Bank (Amendment) Bill 2025, it will be at Committee Stage this week and it is my intention, with the cooperation of all concerned, to progress the legislation swiftly through the Oireachtas in advance of the summer recess.
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 examining how Ireland can be effectively positioned and promoted as a leading jurisdiction for insurers.
The Government remains firmly committed to addressing the cost and availability of insurance through the implementation of the reforms set out in the Programme for Government and the Action Plan for Insurance Reform 2025–2029. These measures are intended to support the development of a fairer, more sustainable, and more competitive insurance market, delivering tangible improvements in cost, choice, and access for all consumers.
