Oireachtas Joint and Select Committees
Wednesday, 15 December 2021
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Insurance Issues: Engagement with Insurance Companies
Marc MacSharry (Sligo-Leitrim, Fianna Fail) | Oireachtas source
This policy does. We are talking about 2,200 GAA clubs around the country and the policy's wording seems to prohibit the appointing of loss assessors, which is a clear breach of section 7.1 of the consumer protection code. Will Mr. Connaughton investigate this specific situation? Is there a policy in existence with CLG telling it that clubs cannot appoint assessors? In other words, AIG will insure clients but it will also tell them how much it will cost to fix their houses, cars or business interruption costs, which would seem to be sharp practice. That is a personal view.
Regarding the Central Bank's code of conduct and guidance around test cases and so on, it has come to my notice that, unlike others before us today, AIG is the only firm that has not agreed to the test case process. Sticking to the GAA example, if St. Whoever's from whatever county decided that it wanted to investigate whether it could make a claim of up to €5 million, would AIG be prepared to go the test case route as opposed to the arbitration route, which as Mr. Connaughton knows would cost a minimum of €100,000 per claim?
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