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
Jim O'Callaghan (Dublin Bay South, Fianna Fail)
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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?