Oireachtas Joint and Select Committees
Wednesday, 10 October 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Quinn Insurance and Insurance Compensation Fund: Discussion
4:00 pm
Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source
Mr. Cullinan states it was the Central Bank's role to ensure that Quinn Insurance regulated itself, but it does not appear that was happening. Given the figures outlined here today and the types of practice that were being carried out within the company, it is clear that it was not happening. What I am really concerned about is whether I can be sure, walking out of this room today, that some other insurance company or outfit are not involved in leading us into a situation like this again. What guarantees do we have in this regard, and what is the Central Bank doing about it? Perhaps someone from the Department of Finance might like to reply as well.
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