Oireachtas Joint and Select Committees
Tuesday, 26 March 2019
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Central Bank of Ireland: Discussion
Rose Conway Walsh (Sinn Fein) | Oireachtas source
I wanted to ask the opinion of the witnesses on the insurance companies. As Professor Lane leaves, is he satisfied enough is being done by the insurance companies to reverse the upward trend in insurance costs? I am mindful of his predecessor's comments about the low interest rate environment having challenged the Irish industry over the past five years. That was in 2015. As a result, a number of non-life insurance companies took an optimistic view of the economic outlook. Professor Lane's predecessor also spoke about imprudent pricing, the underwriting approach and all of that. Does he see that over the course of his tenure that has changed and insurance companies are now doing enough? It was a fairly stark analysis.
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