Oireachtas Joint and Select Committees

Wednesday, 26 May 2021

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

Developments in the Insurance Industry: Discussion (Resumed)

Mr. John Power:

It is important to point out that the technical competence in terms of engineers is available all over the country. There are plenty of qualified and competent engineers in this space. I think the issue may be a little bigger than that. There is a problem manifesting and it is only going to get worse unless we do something about it. We cannot do anything about this on our own. We need to have a fundamental look at why we are in the situation we are in and to identify the winners and losers. At the end of the day, without a win-win situation for everybody involved, we will not get a sustainable solution. Engineers Ireland is happy to play its part in coming forward with the expertise that is required to develop a solution. We believe there has to be a solution because without a solution, the construction sector, be that in regard to housing or infrastructure, will be in trouble. We have to find a solution and that requires all parties to get involved, including the insurance companies, Engineers Ireland, most certainly, the legal profession and anybody else we believe can play a part in finding the solution.