Results 21,021-21,040 of 23,109 for speaker:Paddy Burke

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: They do.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: That includes Setanta.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: It does.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: So the bank had interaction with that company.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: Dr. Roux said earlier that the bank cannot advise shareholders what to do, but in that way the shareholders can accumulate losses. At what stage does the bank intervene and point out that they are trading recklessly, if they are racking up many losses? Does it issue warnings and has it imposed sanctions on companies? At what stage does it intervene to point out that they are trading recklessly?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: There is no urgency about it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: All the bank's interactions result in an increase in premiums. I would not say that any of them result in a decrease. The bank is always imposing extra responsibility on companies and further restrictions, which all add to their costs. The Central Bank is always placing extra responsibility on companies and imposing further restrictions which all add to the cost and which invariably lead to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: In April, the Minister for Finance said the legal profession has been a major factor in the increase in insurance premiums. That was refuted here by the legal professions when its representatives came before the committee. The Central Bank has expressed no view on the part played by the legal fraternity in claims and so forth. Does Dr. Roux have a view on it? Are they too expensive?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: If Dr. Roux is no better informed than I, then the Central Bank would be as well to close up shop altogether. I am not well informed at all.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: The Central Bank seems to be turning a blind eye to the legal profession.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: Insurance levies are imposed on ordinary premium payers. Does the Central Bank advise the Government or the Minister for Finance on the levies to be introduced? Does it discuss that with the Department of Finance? How is it negotiated?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: The road hauliers were before the committee. They outlined a particular problem. Many of them may have to re-flag in the United Kingdom or somewhere else because of the high cost of insurance. What is the response of Dr. Roux to Brexit? What does he believe will happen to the insurance business? Does he have a view?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: Most of those firms are UK-based. Does Dr. Roux believe there should be an EU presence here? Is the Central Bank courting any EU companies that could have a presence in Ireland?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: Deputy Pearse Doherty referred to insurance companies and how they invest their reserves. Some concern has been expressed about the banking sector throughout the world. Does Dr. Roux have any concerns about insurance firms and where they invest their reserves in respect of the banks? Some of them are looking for growth and buying junk bonds to a great degree. This could destabilise the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Paddy Burke: Can the Central Bank advise some of those companies on where they may have their reserves invested and whether they may be at risk? Does the bank have concerns about where they have invested?

Seanad: Seanad Bill 2016: Second Stage (Resumed) (12 Oct 2016)

Paddy Burke: I welcome the opportunity to speak on the Bill. It gives us a great opportunity to convey our views, as Senators, on the reform of Seanad Éireann, the way it will progress and how it will work for the next 20, 30, 40 and 50 years. It is also important that we take stock of where we are at the moment. Nowhere was the way the Seanad is viewed by the public and organisations expressed...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: National Economic Output: Director General, Central Statistics Office (13 Oct 2016)

Paddy Burke: I welcome the delegation. The presentation was very interesting. Businesses have no choice but to provide information. Is information sought from the same businesses year after year?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: National Economic Output: Director General, Central Statistics Office (13 Oct 2016)

Paddy Burke: Can individuals and householders opt out of giving information if they so wish?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: National Economic Output: Director General, Central Statistics Office (13 Oct 2016)

Paddy Burke: Mr. Dalton said in some cases it could take more than an hour to complete a survey. Should there be a payment for contributing?