The Government has launched a public consultation on insurance reform.

Brendan Burgess

Brendan Burgess

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Number of uninsured drivers on roads drops, data suggests

The percentage of uninsured private vehicles on Irish roads has almost halved following the introduction of the new Irish Motor Insurance Database system, which is aimed at assisting gardaí to easily detect uninsured drivers.
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Public consultation on new Action Plan for Insurance Reform | Department of Finance Consultation Portal

consult.finance.gov.ie consult.finance.gov.ie

Meanwhile, the Government has launched a public consultation on insurance reform.

The Programme for Government includes a commitment to develop a new action plan for insurance reform, with a focus on encouraging further competition in the market and working with stakeholders to enhance transparency and affordability across all types of insurance.

The consultation will be open to submissions for three weeks.

The Government said it is particularly keen to hear from consumers, representative groups, and those operating in the insurance industry.
 
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In this thread, people have alleged that there is a cartel operating in home insurance. Now is your chance to provide the evidence for the cartel to the government review.

Home insurance 2025 post storm Eowyn

Got my renewal today and it’s gone up 50 % on last year . Tried to shop around but it’s like a cartel . Decided I wasn’t going to pay 900 euro so tried quotes without contents and they are more than 1,000 . Either way my current provider . How is it going up when you remove a significant...
www.askaboutmoney.com
 
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People are often reluctant to make formal submissions in their own name. So if you want to make suggestions in this thread and they are of some value, then I might make a formal submission linking to the thread.
 

Looking Ahead: The 2025-2029 Action Plan for Insurance Reform​

Despite significant progress, challenges remain. Some sectors still face issues with affordability and availability, and the benefits of reform have not been fully passed on to consumers and businesses. The Programme for Government- Securing Ireland’s Future commits to further action to drive down insurance costs impacting households, motorists and businesses. The next Action Plan for Insurance Reform (2025-2029) will focus on encouraging further competition in the market and working with stakeholders to enhance transparency and affordability across all types of insurance.

Key priority areas include measures to:

  • Support growth in the insurance market and enhance Ireland’s competitiveness to drive affordability and availability of insurance
  • Strengthen consumer protection, including legislating for the ‘Right To Be Forgotten’ for cancer survivors
  • Address transparency and affordability across all types of insurance to benefit consumers and businesses
  • Implement legal reforms to promote transparency, competitiveness and fairness in legal costs
  • Reduce insurance fraud including tougher penalties for those who commit insurance fraud
  • Strengthen the Injuries Resolution Board to support the resolution of cases outside of court
  • Mitigate the impact of climate change on insurance, including extreme weather risks and the insurance protection gap.
  • Enhance Ireland’s position as a leading insurance hub in Europe and internationally
  • Promote Insurtech innovation and digitalisation.
A strong but flexible regulatory framework is crucial for maintaining stability while fostering innovation and competition. The Government is committed to ensuring that Ireland remains an attractive, competitive, and future-focused insurance market.

Purpose of this Consultation Paper​

The Department of Finance is seeking input from stakeholders on the 13 questions that are listed below. It is not necessary for stakeholders to answer all of the questions, they can answer as many as they wish.

  1. Areas for further development – What challenges remain, and what additional reforms are needed?
  2. Priorities for the 2025-2029 Action Plan – What key measures should be included in the next phase of insurance reform?

Transparency & Affordability – Clearer, Fairer, and More Accessible Insurance​

  1. How can we strengthen transparency in insurance pricing, policy terms, awards and legal costs to ensure fair treatment of consumers and businesses?
  2. What measures are needed to enhance affordability, particularly in high-cost areas, and to ensure past and future reforms result in lower premiums?

Competitiveness & Availability – A More Dynamic and Resilient Market​

  1. What barriers prevent new entrants from competing effectively in the Irish insurance market, and how can Ireland remain internationally competitive to attract international capital?
  2. How can we improve the availability of insurance and encourage greater competition across different sectors, particularly those facing challenges in accessing coverage?

Fraud – Tackling Misuse for a More Sustainable System​

  1. What further reforms are needed to address fraudulent insurance claims and reduce their impact on costs, including legal expenses?
  2. How can data-sharing, technology, and international best practices strengthen fraud prevention?
  3. What additional measures are needed to address issues such as uninsured drivers and ghost brokers?

Innovation & Skills – Building a Stronger, More Efficient Insurance Sector​

  1. How can innovation support the long-term growth of Ireland’s insurance industry?
  2. What challenges exist in attracting and retaining skilled professionals in the insurance sector?

Climate Protection Gap – Ensuring Resilience for the Future​

  1. What steps can be taken to reduce Ireland’s climate protection gap and improve insurance coverage for flooding and other climate-related risks?
  2. How can Government and the insurance industry work together to make flood and other climate-related insurance more accessible and affordable?
The feedback received will help shape the Government’s new Action Plan for Insurance Reform. While no final decisions have been made, submissions will play a crucial role in determining the next steps.
 
I presume it's just restricted to the insurance industry itself rather than the compo culture and legal system that facilitates it through extraordinary awards and legal fees. I know they now have the claims resolution board to bypass the court system but even that has large awards relative to peer European countries and many people are circumventing that to still go the litigation route
 
Brendan Burgess said:
people have alleged that there is a cartel operating in home insurance
Click to expand...
It's not surprising that people are cynical after recent investigations into anti-competitive behaviours in the motor insurance industry.

www.irishtimes.com

EU accepts Insurance Ireland commitments and closes cartel investigation

Industry group commits to giving outside companies fair access to a claims database it administers
www.irishtimes.com www.irishtimes.com

Three inquiries
The commission opened a formal investigation three years ago into whether Insurance Ireland was operating a cartel by restricting access to the claims database, almost two years after it raided the group as part of an inquiry into a number of issues in the sector.

European competition enforcers were also at that time, in 2017, looking into concerns of anticompetitive practices in the market for insuring trucks and lorries in the Republic. However, it dropped that investigation in 2019.

Meanwhile, a five-year Competition and Consumer Protection Commission (CCPC) investigation into allegations of insurers signalling motor premium price increases to each other ended last August with five insurers and AA Ireland, an insurance intermediary, committing to legally binding agreements to reform their internal competition compliance. None of them conceded that they had breached laws.
 
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