Government says 90% of insurance reform actions completed or ongoing

The third Insurance Reform Implementation Report, which the government will release later today, will provide an update on the reform of the insurance sector.

It claims that 90% of the steps in its Action Plan for Insurance Reform have either been finished or are still being taken.

The coalition unveiled its Action Plan for Insurance Reform almost two years ago.

Reforms completed or currently ongoing include the establishment of an Insurance Fraud Coordination Office and new personal injuries guidelines.

Leo Varadkar, the Tánaiste and Minister for Enterprise, has stated that although there have been decreases in motor insurance premiums, more reforms are required and work is still being done to put them into effect.

Sinn Féin’s finance spokesperson Pearse Doherty has said savings from reduced awards are not being passed on from insurers to policy holders.

He’s called on the Government to support a Sinn Féin Bill which he believes would address that.

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