Oireachtas Joint and Select Committees

Thursday, 1 June 2017

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

Motor Insurance Costs: Minister of State at the Department of Finance

10:00 am

Photo of Eoghan MurphyEoghan Murphy (Dublin Bay South, Fine Gael)
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The Central Bank cannot intervene when it comes to pricing. In terms of reporting requirements and what the insurance companies - entities - report to the Central Bank, I would not be across the detail of that or the conversations they will have with it. However, we are in ongoing discussions with the industry as to what Setanta means. While I have discussed this at a high level with one company, there are more conversations to have as to what we can expect to see. To be clear on the sequencing, we published our emerging recommendations at the beginning of November and prior to the report coming out from the committee at, I think, the end of November. It might have been a helpful guide for the committee's own work.