Oireachtas Joint and Select Committees
Thursday, 23 February 2023
Public Accounts Committee
2020 Report of the Comptroller and Auditor General - Chapter 14: Assessment and Collection of Insurance Compensation Fund Levies
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer
9:30 am
Colm Burke (Cork North Central, Fine Gael)
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My understanding in respect of the fund is that more than €1 billion was paid in for Quinn Insurance Limited. The Central Bank has been handling it since 2018. There is still more than €500 million owed and which remains to be collected from insurance policyholders. Is the Central Bank satisfied that we now have sufficient mechanisms in place across the board in the insurance industry?