Insurance reform will bring a fairer future for businesses – Clendennen

The Action Plan for Insurance Reform 2025–2029 is a significant step forward in delivering a fairer and more competitive insurance landscape for individuals, businesses and community groups, a Fine Gael TD has said.

Deputy John Clendennen, who has consistently called for greater transparency and accountability in the insurance sector, said: “This action plan reflects many of the issues I’ve raised over recent months in the Dáil and with Ministers from the need for enhanced data sharing and legal cost reform, to the need for improved access to affordable insurance in sectors like childcare, leisure, and community organisations.”

The new Action Plan outlines a range of commitments from Government departments and regulators to further reduce costs, boost market competition, and improve protections for consumers.

Key elements include strengthening the Injuries Resolution Board to streamline claims and reduce litigation costs, introducing enhanced transparency measures around how premiums are calculated, tackling fraud through stronger penalties and better data sharing, and addressing legal costs by reforming litigation processes and personal injury award benchmarks.

“I have long championed the concerns of small businesses, particularly in rural Ireland. Insurance reform has always been about fairness. For too long, honest businesses, festivals, and sports clubs have been priced out of existence due to excessive premiums and a lack of competition”, said Deputy Clendennen.

“This plan rightly focuses on continued legal reform, tackling fraud, and ensuring that reforms like the Personal Injuries Guidelines are fully implemented.

“I also welcome the Government’s continued commitment to the National Claims Information Database and the creation of a more transparent insurance market.

“Transparency is what drives down costs. When insurers must explain their pricing, and when consumers can see how claims and awards are handled, that fosters trust. That’s how we build a sustainable insurance model.

“I’m encouraged to see the launch of this Action Plan today. It sets the right course, and I will continue to champion insurance reform at every opportunity” he concluded.