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
Dr. Cyril Roux:
No, we do not have that detail. We do not require it. We do not need it. There are many ways to cut claims into different parts. The information we need to do our work is a separation between material damage and bodily injury damage. It is the settlement rates, a prori development. It is what is covered by arrangements or not. There are other things one would want to know about claims to inform public policy but this data is not information that is needed to conduct supervision and we are not allowed to ask for information that we do not need for supervision. We have very strong powers to force insurance companies to give us the data that we need, but we cannot ask for data that we do not need.
No comments