Oireachtas Joint and Select Committees
Thursday, 6 October 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Rising Costs of Motor Insurance: Discussion (Resumed)
10:00 am
Rose Conway Walsh (Sinn Fein) | Oireachtas source
Notwithstanding Solvency II, why has this data not been available before now? In terms of the Central Bank's consumer protection role, one person stated publicly last night that their insurance had increased from €1,200 to €7,000 in one year so it is of little solace to those people for Mr. Roux to say the Central Bank will get more data but it will not be available for a further two years. Had that data been available when everything started happening, does Mr. Roux believe it would have flagged to him earlier, as the regulator, the need to do further investigation into what was going on in the insurance industry?
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