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 Quinn Insurance Limited is that a fund in the amount of €350 million was available and was being gambled with. There is no question or doubt about that. When the company was no longer able to pay out compensation claims, that fund was not there. Are we satisfied there are now enough checks and balances to ensure the security that is supposed to be provided by the insurance companies?