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

Today, we are dealing with the rising cost of motor insurance. I welcome Dr. Cyril Roux, deputy Governor, Ms Sylvia Cronin, director of insurance supervision, and Mr. Bernard Sheridan, director of consumer protection at the Central Bank of Ireland. The committee concludes its public hearings today on the rising costs of motor insurance. I have also asked Dr. Roux to comment on the recent remarks made by Mr. Ed Sibley, director of credit institution supervision, on the non-performing bank loans and in particular the statement that "engagement with banks has already shown some evidence of a return of more aggressive lending practices and cultures". However, we will confine the main part of our meeting to the topic under discussion. The witnesses will make opening remarks which will be followed by a question and answer session with the members.

I advise witnesses of the fact that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to the committee. However, if they are directed by the committee to cease giving evidence on a particular matter and they continue to so do, they are entitled thereafter only to a qualified privilege in respect of their evidence. They are directed that only evidence connected with the subject matter of these proceedings is to be given and they are asked to respect the parliamentary practice to the effect that, where possible, they should not criticise or make charges against any person, persons or entity by name or in such a way as to make him, her or it identifiable.

Members are reminded of the long-standing ruling of the chair to the effect that they should not comment on, criticise or make charges against a person outside the House or an official either by name or in such a way as to make him or her identifiable.

I now invite Dr. Roux to make his opening remarks.