Insurance Federation welcomes report

The Irish Insurance Federation is welcoming an interim report on reform of the insurance market.

The document by the Oireachtas Committee on Small Business and Enterprise is recommending the abolition of the 2% Government levy on insurance premia.

It also wants an examination into the legal fees charged by barristers in personal injury cases and promotes competition in the insurance sector.

Federation spokesman Martin Long said this afternoon that a number of steps must be undertaken before the market can be opened up.