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Tánaiste and Minister for Finance,Simon Harris TD, and Minister of State with responsibility for Financial Services, Credit Unions and Insurance,Robert Troy TD, today announced the establishment of a new Flood Insurance Protection Gap Working Group as the Government marked one year since the launch of theAction Plan for Insurance Reform 2025–2029.

The new Working Group, which will be chaired by former Secretary General of the Department of Health Jim Breslin, will bring together Government Departments, agencies, insurers and other key stakeholders to examine practical measures to reduce the flood insurance protection gap and improve access to insurance for households and businesses in areas at risk of flooding.

The Group will undertake a time-bound programme of work aimed at identifying practical solutions and strengthening resilience to flood risk.

Speaking today, Tánaiste and Minister for Finance Simon Harris TD said:

“One year on from launching the Action Plan for Insurance Reform, we are seeing real progress across a broad programme of reforms that are helping to create a more competitive, transparent and sustainable insurance market.

“While important milestones have been reached, we are determined to maintain momentum and continue delivering practical improvements for consumers, businesses and community organisations.

“The establishment of the Flood Insurance Protection Gap Working Group is an important next step.

“Under Jim Breslin’s independent chairmanship, it will bring together the key public and private sector stakeholders needed to identify practical solutions to one of the most challenging issues facing the insurance market.”

Today’s announcement follows the first year of the Action Plan for Insurance Reform 2025-2029, which has demonstrated significant progress across a number of priority reforms designed to improve affordability, transparency, competition and the availability of insurance.

Since the Action Plan was launched in July 2025, a number of key reforms have been delivered.

The Tánaiste and Minister Troy also pointed to encouraging market trends, includingnine consecutive months of falling motor insurance premiums, while recognising that further work is needed to improve affordability, address legal costs and personal injury awards, and ensuring insurance is more widely available, particularly in areas vulnerable to flooding.

“The Action Plan was designed to deliver meaningful reforms that improve affordability, transparency and availability across the insurance market.

“Over the past year we have made significant progress, from delivering the Motor Insurance Transparency Code and the ‘Right to be Forgotten’ legislation to advancing reforms that will improve competition and the efficiency of claims resolution.

“Today’s announcement demonstrates our continued commitment to implementing the Action Plan and ensuring that the benefits of reform are reflected in better outcomes for consumers, businesses and community organisations across Ireland.”

The Action Plan for Insurance Reform 2025–2029 contains 26 actions, including ten priority actions, aimed at improving affordability, transparency, competition and availability across the insurance market. The Government said implementation of the Plan will continue over the coming years, with a particular focus on ensuring that reforms deliver tangible benefits for consumers and businesses through lower costs, greater competition and improved access to insurance.