Dáil debates

Thursday, 12 July 2018

Insurance (Amendment) Bill 2018: Committee and Remaining Stages

 

7:55 pm

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

Yes. That will conclude the first half, approximately, of the claims at 65% plus the 35%.

Any claims recently settled will receive their full payment. If any claims are concluded in the period from when the last lodgement was with the High Court, they will be paid in a single payment of 100%. It is important, therefore, that any application is made at the optimum time to ensure that as many claimants as possible receive the compensation due to them in this first application post enactment of the Bill.

In this regard the liquidator for Setanta has informed the Department that a further 117 claims have settled since the last tranche was submitted to the State Claims Agency for verification. These claims will be included in the next application to the High Court and are of the value of €5.1 million, being 100% of the total value of the settled claims. That leaves about 750, about half, the claims plus another 117, so a total of around 870 claims which will have been concluded.

The other aspect is that unless people choose to finalise the settlement, whether it is 65% as it was in the past with a question mark over the 35%, it is somewhat irrelevant. If people choose not to settle and they want to go to court, that is a matter for the individuals.

Comments

No comments

Log in or join to post a public comment.