Results 21,021-21,040 of 26,666 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee (4 Jul 2019)
John McGuinness: We commence in public session but will now go into private session to discuss some housekeeping matters.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: We are joined this morning for our consideration of the insurance industry by representatives from Allianz, Axa and FBD. They are Mr. Seán McGrath and Ms Marie Corry from Allianz; Mr. Philip Bradley from Axa; and Ms Fiona Muldoon, Ms Kate Tobin and Mr. Jackie McMahon from FBD. I welcome the witnesses and we thank them for taking up the invitation to come before us. We are doing...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: I thank Ms Muldoon for reading here her statement into the record. If I may, I will ask the clerk to arrange to receive a copy of it. I compliment Ms Muldoon on her contribution. This is a very worthwhile engagement. It is a two-way street. While the members will have questions for our guests, there is an opportunity for them to set out the issues that face them in their business in...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Will Mr. McMahon to repeat the figures he gave earlier?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: The Senator's time is up.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: It is about the margins.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Allow Ms Muldoon to respond.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Does Mr. Bradley or Ms Muldoon wish to comment?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: An issue that has come across through all the hearings is the lack of or limited information on this. The suggestion made by Senators Paddy Burke and Lawlor relates to information. It may not lower the cost of the premium but it would inform the customer. I am on the same line as Senator Burke on this. If the customer wants to be made aware of the details of a settlement in any case,...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: No, I am asking Mr. McGrath on the basis of Allianz, as a business, dealing with its customers.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: It was raised here today and I am asking the witnesses to address it or tell me why they will not. Will the witnesses undertake to examine the issue or tell me why not? Will the witnesses undertake to give information to customers relative to a claim if they ask for it? What is wrong with that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: I understand that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: If someone came in to me and said they were charged too much for sweets, I would have to explain the reason for the cost. If one is selling a suit, insurance or a stick of furniture, one would have to explain the reason one is charging double the price of others or whatever it might be.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: For some reason, the insurance companies are reluctant to go down that route. One can forget regulation and everything else, it is simple, good business practice and a case of keeping one's customer onside, and informing the market. Many people who take out insurance policies of one kind or another are not fully aware of the fact that in the three cases Mr. McMahon gave us, the legal costs...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: There might not always be an intermediary, and even if there is, that does not explain the situation.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Let me put it this way; if I go to my broker with whom I have done business for years and I have no claims, my taxi insurance is €6,000 but this year it is increased to €12,000 so I ask my broker what happened. I am a good customer who goes to him every year and I have not gone to any other insurance company. I want to know the reason my premium has increased by €6,000....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: No, the companies have not, because the taxi driver who came to me was not told the reason his premium went up.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: I know Mr. McGrath cannot.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Mr. McGrath and all the witnesses have been very helpful this morning but the two key pieces that keep coming back to us is information on how a claim was settled. Surely customers are entitled to that. They are also entitled to information on why their premium has increased. If a premium goes up by a significant amount, surely people are entitled to know the reason. It may be that the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (4 Jul 2019)
John McGuinness: Does Allianz write to them and say their premium has increased by €6,000 because it was necessary to put it up by that much or is it done verbally? Could the witnesses not write to their customers as they are asked for an increased premium to explain the reason for it?