Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

I will take the last point first. As Deputy McGrath knows, the Insurance (Amendment Bill) 2017 is awaiting pre-legislative scrutiny. It is incumbent on all of us to try to get that legislation through both Houses as quickly as possible to ensure that people do not find themselves in a similar position to Setanta's claimants. The Minister for Finance, Deputy Pashcal Donohoe, required the actuarial figure from the analysis to be done in July. Those calculations were concluded and presented in November or December. The Department had been dealing with the liquidator. To put it into context, we are looking at sums between €25 million and €40 million. The State will step up to try to conclude these matters as quickly as possible.

It is also important that people come to a conclusion; that they come to a settlement themselves. They will now be paid 100% of their claim, and the sooner people agree a figure, the sooner we can get as many of these dealt with as possible. I make that point because they do not all have to go to the High Court. It is important to note that the quicker people conclude the matter, the better.

It is also important that people come to a settlement themselves. They will now be paid 100% of the amount and the sooner they agree a figure, the sooner we can get as many of these finished as possible. I make that point because they do not all have to go to the High Court and the quicker people conclude the matter, the better.

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