Oireachtas Joint and Select Committees
Thursday, 24 November 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Rising Costs of Motor Insurance: Discussion (Resumed)
9:30 am
Rose Conway Walsh (Sinn Fein) | Oireachtas source
Yes. I suppose it is about having information on insurance companies making wild claims, yet not being able to substantiate them. They certainly do not produce raw data in a way that others do, so that the claims can be contested. When representatives of the Central Bank appeared before this committee, I asked them if they were satisfied they were getting data that had been requested. When I asked them if they had ever requested data from insurance companies and been refused, they said "No". That leads me to believe that the Central Bank has not been asking the right questions that would help it to fulfil its consumer protection role.
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