Oireachtas Joint and Select Committees

Thursday, 15 November 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Cost of Insurance Working Group Update: Discussion

9:30 am

Photo of Michael D'ArcyMichael D'Arcy (Wexford, Fine Gael) | Oireachtas source

I am aware of those facts also. The issue here, again, is that somebody can have a small claim for small damage and can claim for very large amounts of money. If they keep pursuing it, and lengthen the process for years during which time the insured individual or premises has that claim on their books, it becomes a commercial reality and is cheaper to pay it. Again it goes back to the level of award. It has been lucrative for somebody to pursue it.

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