Billy Kelleher (Cork North Central, Fianna Fail) | Oireachtas source

I welcome Mr. Downey and wish him well as chairman designate of the VHI board. It is a challenging and exciting time for the health insurance market as the economy recovers and we try to encourage more people to try to take out private health insurance. Three little letters not mentioned in Mr. Downey’s presentation are UHI, universal health insurance. Where does he see VHI fitting into the Government’s policy on universal health insurance, particularly in respect of what he says about priorities and the need to attract young people into the private health insurance market and encourage young families to return to it? If we are to have mandatory universal health insurance by 2019, what is the incentive for a young couple, or a young person, to take out health insurance when UHI will be obligatory?

The Central Bank authorisation is obviously a big challenge for VHI. It has done a deal with Berkshire Hathaway as an underwriter. What are the delays in authorisation? Is it continual due diligence by the Central Bank or are there difficulties about who is the ultimate underwriter of VHI in providing adequate capital? Is Berkshire Hathaway or the State the final underwriter? Who will underwrite any difficulty that may arise in the event that VHI does not have adequate capital for some unforeseen reason? What is the delay, as there have been requests to move several deadlines recently? We have tabled questions to the Minister on this subject on several occasions. Why has it not received authorisation?