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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: Do the companies have customers of that type?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: Which company offers that kind of cover?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: Does Mr. Brennan's company offer that kind of cover?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: What about Mr. O'Rourke's company?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: Chartered engineers and fire safety consultants.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: What about FBD?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: Some of the companies cover it. The complaint I have received is that most design team members are required to carry a minimum cover of €6.5 million. I presume that is public liability cover for the various developments they are involved in. They currently can only get €1 million to €2 million coverage and as they exceed €2 million, there is a 400% or 500%...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: Is it a clause Mr. Brennan's company would use?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: Is it correct, therefore, that the three companies before the committee do very limited cover of this type?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: I would like to ask about cast insurance. We received a letter regarding the problems being experienced by those employing a cast for a film production. Are any of the witnesses familiar with the problems in that area of is it a sector with which they are familiar?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: Is that, again, one of those types of insurance where someone has to go through a broker for cover outside the country?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: Are they Irish-based or based abroad and accessed through a broker in Ireland?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: Each company was asked earlier for statistics regarding different payouts and claims. Is that information available on their websites? I refer to information on the background to claims, general stuff.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: No, any insurance for the different areas that the companies insure in.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: It is all there.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: I thank Zurich, FBD and Aviva for attending the meeting.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: We are out of time.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: Sorry about that. I am obliged to bring the meeting at an end at 2.30 p.m.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: It is none of the companies here.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)

John McGuinness: Okay. I have no further questions. Deputy Durkan is indicating.

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