Dáil debates

Thursday, 12 July 2018

Insurance (Amendment) Bill 2018: Committee and Remaining Stages

 

7:55 pm

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

This gets back to the kernel of the issue for Setanta. It is the question of when. Will the Minister of State clarify that there is no limit as to the number of claims and the financial quantum of such claims that can be dealt with fully in the next cycle of ICF payouts, which under this legislation will be every three months? Therefore, provided the terms of the claim are agreed and settled, is there any restriction on administering the 100% payout? In some cases 65% has been paid out and 35% is outstanding, but there are 750 claims where zero has been paid out so far. Will the whole lot be paid out and washed through, as it were, ideally in one go, in claims where a settlement figure is agreed? I need to clarify this.

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