Oireachtas Joint and Select Committees

Wednesday, 16 December 2020

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

Insurance Issues: Minister of State at the Department of Finance

Photo of Jim O'CallaghanJim O'Callaghan (Dublin Bay South, Fianna Fail) | Oireachtas source

When it comes to assessing how much premiums should be, it should be realised that insurance is a very effective industry and it is very difficult to assess whether there is "price gouging" going on unless there is a broader and more detailed view of the insurance industry itself. Is the Government considering any proposals in respect of requiring greater disclosure from insurance companies regarding, for instance, their profits and how much is paid out in awards on foot of premiums?

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