Oireachtas Joint and Select Committees
Thursday, 8 March 2018
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed)
9:30 am
Kieran O'Donnell (Fine Gael) | Oireachtas source
If one were to pull that back and clear the €870 million, what would be required for the fund to operate efficiently in terms of being in surplus and of a levy on the insurance industry? What is happening here, in essence, is that a model is being established to clear an overdraft. I am taking it a little further and trying to put it into a space as to when a fund like that becomes self-financing. Has the Central Bank looked at what will be levied on individual insurance companies based on modelling and so forth to establish the rate to levy to make the fund self-financing?
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