Results 22,661-22,680 of 26,695 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: Can Mr. O'Rourke answer the question please so we can get through it quickly?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: If you would, Mr. O'Rourke, or whoever wishes to take it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: I thank the Deputy. I have a number of questions and I suggest that the witnesses could take the question relevant to their company. Regarding brokers and how they operate, what is the average profit margin they add to a quote given to them by an insurer?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: From where do they get their profits?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: The quote customers gets through a broker is the quote directly from the insurance company and the broker is paid a commission on that. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: I could put my next question to any of the three CEOs but I will put it to Mr. O'Rourke. The information he has given the committee is that we can see insurance premiums coming down. He said there is evidence of that. The evidence I see in my office is that insurance premiums are going up. I am not saying the majority are going up but the ones I see are. I have an example to hand where...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: What does Mr. O'Rourke mean by "that is the case"?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: Regardless of that figure, a significant number of people have had the opposite experience to what Mr. O'Rourke has been explaining to the committee. I have referred to one such case. The individual in question is a loyal Aviva customer but he is expected to pay €138.17 more than he paid last year. I would say this is the same for everyone. This person has been reading the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: I am sorry for cutting across Mr. O'Rourke but I want to stick to the facts here. This man, a customer of Aviva for years and with a no-claims bonus in place, has been told his premium is going up by €138. Mr. O'Rourke can cite statistics and analysis and the whole lot but there are too many people like this man coming into my office and telling me they cannot get insurance or, as in...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: Will Mr. O'Rourke answer my question?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: I could be dabbling in the margins here but, out of the numerous complaints brought to my attention, I have chosen one that is a standout type of complaint, and it is not the only one. I just do not understand this argument we have had here for years abut insurance premiums. Regarding the decision of the Judicial Council, Mr. O'Rourke said that quite a number of the judges voted against the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: Then Mr. O'Rourke should stop making statements like that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: Deputy Doherty said he had conducted a survey and analysis of the cases brought to his attention. I have done likewise and I set that against all of the things that are improving in insurance, what is happening in the courts and so on. Nothing the three CEOs have said gives any comfort to me or, indeed, to those customers to whom I will write back after this meeting. I will encourage them...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: Do the companies have customers of that type?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: Which company offers that kind of cover?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: Does Mr. Brennan's company offer that kind of cover?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: What about Mr. O'Rourke's company?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: Chartered engineers and fire safety consultants.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: What about FBD?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Developments in the Insurance Industry: Discussion (19 May 2021)
John McGuinness: Some of the companies cover it. The complaint I have received is that most design team members are required to carry a minimum cover of €6.5 million. I presume that is public liability cover for the various developments they are involved in. They currently can only get €1 million to €2 million coverage and as they exceed €2 million, there is a 400% or 500%...