Oireachtas Joint and Select Committees

Tuesday, 13 September 2016

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Rising Cost of Motor Insurance: Discussion (Resumed)

11:00 am

Photo of Gerry HorkanGerry Horkan (Fianna Fail) | Oireachtas source

If the witnesses were sitting on this side of the room, as committee members, what questions would they put to the representatives of Insurance Ireland when they appear before this committee? The data sharing issue is one that has been raised over and over again. Many witnesses have spoken about the lack of transparency and visibility. We have been told that 70% of claims are being settled out of court, with no visibility. The Injuries Board is dealing with approximately 20% of claims, while only 10% are going to court. We were told last week that insurance companies are settling up to 70% of claims out of court because they are not sure which judge will be presiding, what the claims might be and what the payouts might amount to. I ask the witnesses to give their thoughts on that and to outline what they would ask representatives of Insurance Ireland.

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