Results 21,901-21,920 of 23,109 for speaker:Paddy Burke

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Would the ICF have any say in the appointment of the liquidator and who that would be? Would it give the liquidator a timeframe in which to wind things up?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: How will the 2% levy would be imposed on an insurance claim? Will the insurance company collect the 2% levy with the premium? How will the proceeds be handed over to the insurance compensation fund? Will this be done at intervals or at the end of each year? Will the insurance industry hand over the full sum in one amount? Will the 2% be immediately transferred to the ICF once a person...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Is it the case that MIBI could hold this fund for years? Will it invest that fund or what is envisaged?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Cut back.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Who are MIBI?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Who has the oversight on MIBI?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: We do not know much about MIBI but it will collect and hold the fund.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: That is the proposal for this legislation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: One of the biggest costs in insurance arises from bureaucracy and paperwork. We all thought that computers would cut out the need for paperwork but there seems to be more now than ever was the case in the past. Are there any proposals to make the process easier from the point of view of paperwork?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: I welcome Ms Cronin and Mr. Cross to the meeting. Did the liquidation of Setanta cost €70 million?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: How much did it cost to do the same for Quinn?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: All of the cost, in terms of AIB, has been eliminated. Is the outstanding sum of €870 million relatively new, between Setanta and Quinn?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: It would. Was the Quinn proceedings a liquidation or examinership?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Therefore, the administration of Quinn cost the insurance industry €900 million. Will the Central Bank have oversight in the legislation on the Motor Insurers' Bureau of Ireland, MIBI?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Will MIBI self-regulate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Will MIBI not be subject to oversight by the Central Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Will MIBI collect the 2% levy?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: How will the 2% be collected? Will the insurance companies collect the 2% levy? Will they hand it over on a case-by-case basis or at the end of the year, every three months, six months or whatever?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Will the levy be collected by MIBI?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Will that be done without oversight?