Irish Deputy Prime Minister Mary Harney is to invite British insurance companies to quote for business in the Republic when she addresses an audience at Lloyd's today.
The Tanaiste will argue that changes to the insurance industry in the Republic, including the introduction of the Personal Injuries Assessment Board (PIAB), road safety legislation, penalty points, and health and safety regulations, have reduced the number of accidents and their financial effects, said a report.
Harney will address the Lloyd's meeting along with PIAB chair Dorothea Dowling and chief executive Patricia Dowling.
A small number of British insurers have been offering niche insurance cover in Ireland since the beginning of the year.
The Irish insurance market is said to be worth the same as the Birmingham market.
