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Views sought on new insurance-reform plan

The Government has launched a public consultation on a new plan aimed at boosting competition in the insurance market. 

The Programme for Government includes a commitment to a new Action Plan on Insurance Reform to follow the previous 2020 initiative. 

The Government says that, as well as encouraging further competition, the new plan will focus on working with interested parties to enhance transparency and affordability across all types of insurance.

The consultation is open until 19 May. 

Availability of insurance 

Robert Troy (Minister of State with responsibility for insurance) said that, despite “significant progress”, some sectors still faced issues with affordability and availability of insurance. 

“The benefits of reform have not been fully passed on to consumers and businesses,” he added. 

The Government says that a Cabinet sub-committee will be set up to oversee implementation of a new plan.