Gerry Horkan (Fianna Fail) | Oireachtas source

Since last Wednesday we have heard that 71% of claims are being settled without recourse to either PIAB or the courts and we do not have any visibility as to whether they are bigger or smaller amounts than would be paid out by the courts. They could be twice what the courts would pay or half. Various members of the Judiciary might have different histories in terms of claim awards. Insurance companies are making rational commercial decisions but there is no visibility. What is happening in other jurisdictions where they are compelled to share data or to allow the state see the data, anonymised or otherwise, would be of huge benefit in assessing whether insurance companies are profiteering or if the situation is that the claims are not sustainable in terms of what is being paid out versus what they are taking in.

I do not think members have any other questions and if contributors do not have anything further to say, we will bring the meeting to a conclusion. We have had a good discussion. On behalf of the joint committee I thank all the witnesses for their co-operation – Ms Murphy, Mr. Herron, Mr. Redmond, Mr. McDonnell and all the members who were present and participated in the debate, in particular Deputy Fitzmaurice who is present at a meeting of this committee for the first time.