Oireachtas Joint and Select Committees

Thursday, 15 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 John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

Ms O'Leary knows what I am saying to her. The data is there and it is held by Insurance Ireland. One individual represented the brokers this morning. He had a business whereby someone coming into the market might use the services offered by his company to access the data that Insurance Ireland has - at a price, I am sure. We know Insurance Ireland holds the data, we know it is critical to the examination of the market by an outside company, and the CCPC knows that, but it did not take any action to say Insurance Ireland is holding the data and not sharing it and to at least question Insurance Ireland on it. That is the point I am making. As a result of that, we have all these companies, some of them withdrawing from the market, which is contracting, with very little competition. The witnesses represent the CCPC. They should not be waiting for a phone call if they are on top of their game.

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