Results 13,981-14,000 of 26,053 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: I commend the Minister of State and his officials on their work to date. A liquidator for Setanta is based in Malta but Deloitte is actually acting on his behalf in Ireland. I suggest we bring the liquidator before the committee to find out exactly where he is at on the liquidation of Setanta and paying out premiums. It might be a worthwhile endeavour. It is just a suggestion but what we...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: Why might it not be possible?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: When liquidators were appointed to the Quinn Group, they were brought before the finance committee. It is a component around which there is lack of clarity. We have the Insurance Compensation Fund and we know that is 65%. It is a proposal and it is worth looking at.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: The Setanta judgment in the Supreme Court should bring about a reduction in premiums. As the regulator, does the Central Bank have the power to request motor insurance companies to provide details of the breakdown of premiums, in particular the element of the premium which could bring a discount in relation to the uncertainty arising on foot of Setanta?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: They are basically saying the premium will come down because we now have clarity around the Setanta judgment. By definition, there must have been a form of loading on premiums on foot of the uncertainty surrounding the Setanta judgment.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: No. What I am looking at is simple. When we were doing the report around the insurance industry which was in parallel if slightly prior to the Minister of State's report, we had insurance companies coming in and saying "uncertainty this" and that would have fed into the Minister of State's report also. It was all abstract. If they are now saying the uncertainty around Setanta was one of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: Absolutely. I take that very much in the spirit in which it was delivered. How many competitors have come into the motor insurance market in the last six months?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: That is insurance companies.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: There are three new ones.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: The database was probably the single most important finding in the report. When will it be put in place?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: Does the Minister of State anticipate the target can be held for a national database?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: Has the Minister of State had any reaction from the insurance industry?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: To whom will this be available? When a national database is up, who will be able to access it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: The Setanta implosion arose in Ireland because, effectively, the company was being regulated in Malta but operating in Ireland. If a company operates in Ireland now but a different company is regulated in Malta or elsewhere, is there a potential change in the regulation process, either from an Irish or European perspective, that could give more comfort to the person holding a policy with a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Motor Insurance Costs: Minister of State at the Department of Finance (1 Jun 2017)

Kieran O'Donnell: Would it be fair to say the level of engagement and due diligence by the Central Bank on companies regulated from abroad but operating in Ireland for motor insurance is now more intensive?

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Kieran O'Donnell: Will we get copies of the Minister's speech?

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Kieran O'Donnell: I welcome my constituency colleague, the Minister for Finance, Deputy Michael Noonan, to the Chamber and commend him on this partial flotation of AIB. Like everyone else, I acknowledge the fantastic work he has done as both Minister for Finance and long-term Minister at the Departments of Health, Energy, Industry, Commerce and Trade, and Justice. I thank him for his dedicated service to...

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Kieran O'Donnell: We borrowed on behalf of the taxpayer; we have to repay the debt on behalf of the taxpayer.

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Kieran O'Donnell: That is the first time I have been known to heckle.

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Kieran O'Donnell: It was a Freudian slip.