Competition 'key to insurance reform': Tánaiste

Tánaiste Mary Harney is trying to break the grip of a handful of companies on Ireland's insurance market.

Ms Harney has revealed that she's trying to get outside providers to compete with those operating here to force down premiums.

She hopes the reforms she's bringing in will make the Irish insurance market a more attractive place to compete.

"I'm also talking to other players who haven't yet come into the Irish market," she said.

"We need more competition here. That, at the end of the day, is what will really drive the prices down."