Oireachtas Joint and Select Committees

Wednesday, 13 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Patrick Davitt:

No ... I ... I don't ... I didn't get them, because, like, normally these claims would take a year or two to work out like this, but I ... I know that in ... I haven't got the actual figures for the ... the official figures of the insurance company for 2009, 2008, 2007, but I know that they're still quite small, and if they weren't very small, like each of these ... there's over 500 policies on this particular scheme with all on ... on a separate basis. So if they were actually large, you can be sure the insurance company wouldn't be actually taking the cover ... or they wouldn't be at a reasonable price. So the amount of claims in professional indemnity insurance in Ireland for valuers is very, very low.

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