Results 8,441-8,460 of 12,387 for speaker:Paul Murphy
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: What period do these figures relate to?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: I will cut to the chase in terms of the insurance industry. I think the narrative being spun by the insurance industry about how the primary issue is an increase in claims is falling apart. It is not working well for the industry. The facts do not illustrate it. The dual pricing issue is part of that. Perhaps we can start there before going back to the figures. I am not asking Mr....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: If my twin brother and I have the same job, the same living conditions, the same sort of house, the same car - are identical for all actuarial purposes - Mr. Hassett does not think there is a problem if I, as a loyal customer of insurance company A, could be charged substantially more than my brother, who is a customer of insurance company B but is looking at insurance company A. Mr. Hassett...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: So Mr. Hassett does not agree that such a practice could discriminate against people based on their age, not as an actuarial factor, but to do with the fact that they may not be checking the Internet or scouring price comparison websites. They may not have the time to do it. Mr. Hassett does not think that is necessarily a problem.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: What non-actuarial factors is it fair to take into account when setting price?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: What is Mr. Hassett's attitude to legislation along the lines of legislation found in various states in the USA that bans this kind of dual pricing?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: Who does Mr. Hassett represent?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: Who does Insurance Ireland represent?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: What is the aim of the insurance companies that Insurance Ireland represents?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: That sounds really good. They are not interested in making profits. That is not a primary motivation for them.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: Mr. Hassett did not mention that when he said their motivation-----.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: Could their interest in maximising their profits be a factor in Insurance Ireland's opposition to banning dual pricing? Could it be that Mr. Hassett is not some disinterested individual? I do not mean in any material sense but in the sense of those he represents. Clearly, there is a happy coincidence between Insurance Ireland opposing the banning of dual pricing and the interest of the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: I will focus on some figures. I have figures to hand which are compiled by Noteworthy, the investigative platform of thejournal.ie. They suggest that total awards for personal injury cases fell by 28% between 2014 and 2018 in spite of rising premiums. Insurance Ireland disputes that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: Is that "inaccurate" or "an accurate", if Mr. Hassett knows what I mean?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: Is that the 28% figure?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: It is but, looking at the fuller figures, it includes a reduction of the same percentage in Personal Injuries Assessment Board, PIAB, awards as well. Noteworthy proposes there is a 28% drop in that period of time in court and PIAB awards combined. Is that accurate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: I will put other figures to Mr. Hassett and he can tell us whether these are accurate. They have a figure for total motor and liability premiums - the total taken in by the insurance industry - of €1.35 billion in 2012 rising to €1.57 billion in 2013, €1.68 billion in 2014, €1.88 billion in 2015, €2.27 billion in 2016, €2.48 billion in 2017. They...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: Does Mr. Hassett dispute those figures?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: Do they not include claims that are settled out of court? It states that these are net motor and liability claims.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Dual Pricing for Insurance: Discussion (Resumed) (21 Nov 2019)
Paul Murphy: I do not agree but I must go. I thank the witnesses.