Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I wish to ask the Minister of State about the application of this section to Setanta Insurance and the associated outstanding claims. As the Minister of State is aware, more than 1,500 active claims remain arising from the collapse of that company four years ago. Will the Minister of State provide some clarity for the people who were caught up in that and who are involved in those outstanding claims? When does he envisage that this welcome provision will be made? When will the 65% cap be removed and when will the people in question have their outstanding claims paid in full? They keep asking me - and I keep asking the Minister of State - when this will happen. A later section, section 12, provides for more frequent payouts from the insurance compensation fund. The period will change from every six months to every three months. Will the Minister of State deal with that central question on Setanta?

The limits are being removed in respect of third-party claims. This section sets out the detail. Up to €1.22 million is set out for injury to property in the case of third-party insurance claims and any person injury claims will be met in full. That is the position for third-party claims.

I understand, however, that a limit will remain for first-party claims. Will the Minister of State explain why a distinction is being drawn between first-party claims and third-party claims? The reforms in the Bill are welcome, but we will be left with a situation where one category of claimant is being treated differently from another.

See this speech in context