Oireachtas Joint and Select Committees
Wednesday, 19 May 2021
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Developments in the Insurance Industry: Discussion
Mr. Tomás O'Midheach:
To give an example, if we gave the full profit of 2019 to a publican who then got the Government benefit, that person would gain from the pandemic, whereas if we deduct it, the insured party is made whole. There is, therefore, no benefit from insurance.
The debate then about making the Government whole is a distinct issue, which we have covered in previous discussions about mechanisms and rules. The insured party would be made whole, however.